Several respondents in the Texas State Securities Board’s previously issued GSPartners emergency cease and desist order have lost their right to appeal.
These include GSPartners executives Dirc Zahlmann, Bruce Hughes and Aline Lima, as well as the failed Swiss Valorem Bank rebrand.
On April 12th Joe Rotunda, the Texas State Securities Board’s Enforcement Director, confirmed the cease and desist order against the named Respondents was made permanent on April 4th.
Order No. 1879 is final as it relates to Dirc Zahlmann, Bruce Hughes, Aline Lima and Swiss Valorem Bank – meaning it is not subject to appeal by these parties.
TSSB permanently banning Swiss Valorem Bank and GSPartners executives is in contrast to claims top net-winner Andrew Eaton made earlier this month.
On April 3rd, Eaton (right) claimed “eleven of the twelve states are happy to” settle with GSPartners and owner Josip Dortmund Heit.
Eaton singled out Florida as not wanting to settle, claiming the Office of Financial Regulation was “digging their heels in”.
The day after Eaton’s claims, on a secret executive call Heit is reported to have announced GSB Gold Standard Corporation had “abandoned hope of operating in US“.
In a questionnaire directed at GSPartners investors, TSSB further states the remaining Respondents, among them GSB Gold Standard Corporation, GSPartners and Heit (right), “are afforded the opportunity to challenge the emergency action.”
If they fail to do so, at some point the TSSB’s emergency cease and desist against Heit and the remaining GSB Gold Standard Corporation Respondents, which remains in place, will also become permanent.
To date GSPartners is only known to have responded to regulatory enforcement action in Arizona. A hearing on the Arizona Corporation Commission’s securities fraud cease and desist is scheduled for September 16th, 2024.
In seeking out GSPartners investors, TSSB writes;
If you are a client of GS Partners, GS Pro or related parties, we want to hear from you, regardless of whether you live in Texas.
The Enforcement Division is requesting that you complete this brief form.
Your responses will be treated as confidential pursuant to Section 4002.161 of the Texas Government Code (the Securities Act) and Texas Administrative Code Title 7, Part 7, Chapter 131 (the Rules and Regulations of the State Securities Board).
We estimate that it will take approximately 10 minutes to complete the form depending on the amount of information you chose to provide.
Based on promotion of GSPartners and website traffic statistics, the US made up the majority of its investors. Pending further action by US authorities, total GSPartners investor losses remain unknown.
After abandoning the US, GSB Gold Standard Corporation’s next move is Billionico’s launch on April 19th.
Originally suspected of being a backdoor for GSPartners’ US and Canadian investors, Billionico’s marketing has since revealed an offering of “meticulously crafted learning modules”.
On April 1st, Billionico announced it had hired US resident and GSPartners investor Alfredo Pino. In his new role, Pino will purportedly mentor “a small group of select elites”.
Pino, originally from Canada, relocated after he was banned for misappropriating hundreds of thousands of dollars from a mutual fund client.