GS Partners to Fully Refund Crypto Investors as Part of Settlement with Five U.S. States
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
GS Partners, a company that offered a range of crypto investments, has agreed to fully refund investors as part of a settlement with five U.S. states.
The Texas State Securities Board (TSSB) announced on Monday that Texas, Alabama, Arizona, Arkansas, and Georgia have reached an agreement with the firm and its owner, Josip Heit.
The settlement follows a multi-jurisdictional investigation that found GS Partners had defrauded investors through misleading claims about potential profits and risks associated with its crypto asset investments.
Under the terms of the agreement, GS Partners will return 100% of the funds to investors in exchange for the dropping of all civil claims and investigations against the company.
Notably, no monetary penalties were imposed on GS Partners or Heit.
The company has also agreed to cease offering unregistered securities in the states involved.
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