Hoosiers to receive full refunds from fraudulent investment firm
Oct 29, 2024
INDIANAPOLIS The Indiana Securities Division has secured a settlement with GS Partners, ensuring that all investors will receive a full refund.GS Partners, an offshore investment firm, was accused of misleading investors and selling fraudulent digital assets. The multi-state investigation, led by the North American Securities Administrators Association (NASAA), uncovered a complex scheme involving the sale of digital tokens and other investments.Indiana Secretary of State Diego Morales said, This action is reflective of the trend we are seeing increasingly in todays securities markets that highlight a move away from pen and paper securities and a move towards securities that exist in digital formats such as the metaverse, A.I., cryptocurrency, etc. While many legitimate securities firms may leverage new technologies, its important for Main Street investors to recognize that investments in the real or digital world are regulated and subject to the same registration requirements.If you are a Hoosier investor who purchased products or services from GS Partners, contact the Indiana Secretary of State Securities Division for assistance with the claims process. The Securities Division can be reached at (317) 232-6681 or via email at [email protected] protect yourself from investment fraud, it's important to be cautious and do your research. Here are some tips: Be skeptical of high-yield, low-risk investments. Do your research on investment firms and individuals. Don't invest in something you don't understand. Be wary of pressure tactics. If something sounds too good to be true, it probably is.Eligible GSB customers will be able to submit claims through the Claims Portal beginning in the coming weeks. The Claims submission process will last 90 days. WATCH | Latest Headlines Latest Headlines | October 29, 12am