GSPartners and owner Josip Heit have received a securities fraud cease and desist from Florida.

Florida’s Office of Financial Regulation’s 
two hundred and eighty-six page
 
November 17th order
names eight respondents;

GSB Gold Standard Bank LTD, dba GS Partners

GSB Gold Standard Corporation AG

GSB Standard Corporation USA

Swiss Valorem Bank LTD.

WealthBuilders Worldwide

Josip Heit

Brian Cromley and

Ruel Milson

Brian Cromley is a high-ranked GSPartners’ “Crown Ambassador” promoter.

From 2021 through 2023, Respondent Cromley has organized several in-person presentations throughout Florida and at various locations throughout the United States.

The purpose of these presentations was to advise attendees on how to promote GS Partners’ MetaCertificates and on how to acquire more investors.

Ruel Milson is a lower-ranked promoter and part of WealthBuilders Global.

WealthBuilders Global is a GSPartners group run by Michael Dalcoe and Nathaniel Hines (aka Nate Hines).

Both Cromley and Milson are Florida residents.

The Office of Financial Regulation (OFR) cites GSPartners’ “MetaCertificates” investment scheme as “an offer or sale to Florida residents of unregistered securities”.

Through MetaCertificates, GSPartners solicits investment on the
promise of up to 5% a week
.

OFR also points out GSPartners, through its GSB Gold Standard LTD and Swiss Valorem Bank, violated Florida law

regarding unauthorized use of the of the term “bank”, the offer of traditional banking services, and otherwise holding themselves out as financial institutions to Florida residents.

OFR’s investigation into GSPartners was primarily undertaken by two Bureau of Financial Investigations agents.
Details of the investigation itself are worth a read
, this article will only cover the findings and subsequent orders.

Having identified GSPartners’ MetaCertificates scheme as a securities offering under Florida law, OFR notes

Respondents are not presently, and have never been, registered with the Office as investment advisers, dealers or associated persons pursuant to (Florida law).

The MetaCertificates offered or sold by Respondents are not presently, and have never been, registered as securities with the Office pursuant to (Florida law).

With respect to use of the term “bank”;

No Respondent has ever been a chartered or licensed as a financial institution according to the Federal Financial Institution Examination Counsel’s National Information Center.

Respondents GSB Bank LTD and Swiss Valorem Bank have never been chartered or licensed by the Office to do business in the state of Florida as a financial institution.

Respondents have never been members of the Federal Deposit Insurance Corporation (FDIC), any any funds deposited with Respondents are not insured by the FDIC.

OFR did find “GSB USA”, a Florida shell company that lists Josip Heit (right) as its Director and President.

I don’t believe GSB USA has ever been disclosed or mentioned in GSPartners’ marketin

🤖 Quick Answer

What regulatory action has Florida's Office of Financial Regulation taken against GSPartners?
Florida's Office of Financial Regulation issued a 286-page cease and desist order on November 17th against eight respondents, including GSB Gold Standard Bank LTD, GSB Gold Standard Corporation AG, and owner Josip Heit, alleging securities fraud and unlawful promotional activities related to MetaCertificates.

Who is Brian Cromley in relation to GSPartners?
Brian Cromley served as a high-ranked GSPartners "Crown Ambassador" promoter who organized multiple in-person presentations throughout Florida and across the United States from 2021 through 2023 to promote MetaCertificates and recruit investors.

What entities were named as respondents in the Florida cease and desist order?
The order named eight respondents: GSB Gold Standard Bank LTD, GS

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