The Office of Financial Regulation (OFR) has issued an immediate final order to Gold Standard Bank (GSB) LTD, operating as GS Partners, and other members of the GSB Group. The order demands that they cease alleged unregistered and fraudulent securities and banking services in Florida. This action stems from a collaborative effort among securities regulators in the United States and Canada, aimed at protecting the public from alleged fraudulent activities.
According to the OFR, GS Partners promoted investments through a multilevel marketing scheme. They allegedly paid high commissions while providing misleading information about profit generation. The order claims their actions pose an ongoing danger to public health, safety, or welfare, particularly affecting depositors or investors who might be misled by these representations.
Residents of Florida who suspect financial scams or questionable business practices are encouraged to report them online at www.flofr.gov or by calling (850) 487-9687.