Public Notice No. 10 of 2024 – GBS Gold Standard Bank Ltd d/b/a: GS Partners, Swiss Valorem Bank Ltd. et al

SECURITIES COMMISSION OF THE BAHAMAS PUBLIC NOTICE No. 10 of 2024 7 August 2024 RE: GBS Gold Standard Bank Ltd d/b/a: GS Partners, Swiss Valorem Bank Ltd. et al This NOTICE is issued by the Securities Commission of The Bahamas (the Commission) pursuant to its authority under the Securities Industry Act, the Investment Funds Act, the Financial and Corporate Service Providers Act, and the Digital Assets and Registered Exchanges Act (the Acts). It has come to the attention of the Commission that an entity called GSB GOLD STANDARD BANK LTD. (GS PARTNERS) doing business as (d/b/a), SWISS VALOREM BANK LTD. and by other designations (listed below), may be conducting activities that are either registrable/licensable or illegal under one or more of the Acts. GSB GOLD STANDARD BANK LTD d/b/a NAME WEBSITE 1 GS PARTNERS http://gspartners.global 2 G 999 https://g99main.net 3 GOLD STANDARD PARTNERS http://gspartners.global 4 GS PARTNERS AND GSP (no webpage) 5 GS PARTNERS GLOBAL (no webpage) 6 GS SMART FINANCE (no webpage) 7 GS TRADE EXCHANGE https://gstrade.exchange 8 GSB GOLD STANDARD BANK LTD http://gspartners.global 9 GSB GOLD STANDARD BANKING CORPORATION PLC (no webpage) 10 GSB GOLD STANDARD PAY (no webpage) 11 GSB GOLD STANDARD PAY LTD https://gstrade.exchange 12 GSB GOLD STANDARD TRADE http://gspartners.global (One or more of the websites may no longer be active)

2 The Commission hereby advises the public that none of these entities or their agents/representatives are registered with/licensed by the Commission. Additionally, none of the listed entities have applied to be registered/licensed by the Commission. Therefore, any registrable/licensable or illegal activity conducted, in or from within The Bahamas, by these entities and their agents/representatives is in violation of one or more of the Acts. BACKGROUND GS Partners uses a multi-level marketing program through which it issues, for sale, instruments called Meta Certificates that guarantees a fixed daily or weekly return. The Commission notes that based on market conditions, the promised returns are exaggerated. This program is also structured to pay a commission to promoters of the program and recruiters of new investors. The commission is based on the number of new investors recruited. GS Partners promotes itself, via some of its literature, as an operator in areas involving Digital Asset Business, Corporate Financing and Securities Investment Business. The Commission is informed that GS Partners representatives have advertised and have promoted their activities and investment programs in or from within The Bahamas, and have conducted recruitment exercises in this jurisdiction by means of in-person seminars and social media. OTHER REGULATORY WARNINGS AND ORDERS The Commission further advises the public that the following overseas regulators have issued warning notices, alerts and/or cease and desist orders concerning the activities of GS PARTNERS, as follows: 1 ALBERTA SECURITIES COMMISSION (ASC) https://www.asc.ca/en/Enforcement/Investment-Caution￾List/g/GSPartners 2 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION https://moneysmart.gov.au/check-and-report-scams/investor-alert￾list#!https-gspartners-global-1375 3 BRITISH COLUMBIA SECURITIES COMMISSION https://www.bcsc.bc.ca/enforcement/early￾intervention/investment-caution-list/2023/gspartners 13 GSDEFI http://gspartners.global 14 GS DIGITAL PARTNERS LLC (GS PRO) https://gspro.network 15 GSP http://gspartners.global 16 GSPARTNERS http://gspartners.global 17 GSTRADE http://gspartners.global 18 LYDIAN WORLD https://lydian.world 19 SWISS VALOREM BANK LTD https://swissvalorembank.com 20 WEALTHBUILDERS WORLDWIDE (no webpage)

3 4 CANADIAN SECURITIES ADMINISTRATORS https://www.securities-administrators.ca/investor-alerts/gs￾partners-gsb-gold-standard-bank-ltd/ 5 NEW ZEALAND FINANCIAL MARKETS AUTHORITY https://www.fma.govt.nz/library/warnings-and-alerts/gs-partners/ 6 ONTARIO SECURITIES COMMISSION https://www.osc.ca/en/investors/warnings/gspartners-aka-swiss￾valorem-bank 7 SASKATCHEWAN - FINANCIAL AND CONSUMER AFFAIRS AUTHORITY https://www.fcaa.gov.sk.ca/public/CKeditorUpload/GS_Partners.pdf 8 SOUTH AFRICA FINANCIAL SECTOR CONDUCT AUTHORITY https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Rel ease%20- %20FSCA%20warns%20the%20public%20against%20GS%20Partners %20-%2022%20November%202023.pdf 9 THE ARKANSAS SECURITIES COMMISSIONER https://securities.arkansas.gov/wp-content/uploads/2023/11/Cease￾and-Desist-Order-GS-Partners-et-al.pdf 10 THE COMMONWEALTH OF KENTUCKY https://kfi.ky.gov/Documents/GS%20Partners,%20Josip%20Heit%20 2023AH0027.pdf 11 THE COMMONWEALTH OF MASSACHUSETTS https://www.mass.gov/info-details/beware-cryptocurrency-scams 12 THE OFFICE OF THE MISSISSIPPI SECRETARY OF STATE https://www.sos.ms.gov/content/enforcementactionssearch/Enforc ementActions/GS%20Partners;%20Josip%20Heit;%20and%20Richard %20Shoto.pdf 13 THE STATE OF CALIFORNIA https://dfpi.ca.gov/wp-content/uploads/sites/337/2023/11/Desist￾and-Refrain-Order-GSB-Gold-Standard-Bank-Ltd-2023-11-16.pdf 14 THE STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION https://www.doah.state.fl.us/FLAID/OFR/2023/OFR_118942_111720 23_055205.pdf 15 THE STATE OF NEW HAMPSHIRE https://sos.nh.gov/media/xmfoiiwp/enforceord_i-2023-000033.pdf 16 THE STATE OF WASHINGTON https://dfi.wa.gov/documents/securities-orders/S-23-3655-23- TO01.pdf 17 THE STATE OF WISCONSIN https://dfi.wi.gov/Documents/Securities/RegistrationOfProfessionals /EnforcementAdministrativeOrders/2023/20231116GSBGoldStandar dBankLtd.pdf 18 THE TEXAS STATE SECURITIES BOARD https://ssb.texas.gov/sites/default/files/2023- 11/ENF_23_CDO_1879.pdf WARNING Individuals currently (or desirous of) conducting business with these entities or their agents/representatives, should be aware that they are doing so with entities and/or agents who are not authorized or regulated by the Commission.

4 Listings of the Commission’s registrants and licensees that are authorized to engage in activities regulated by any of the Acts, in or from within The Bahamas, are located on the Commission’s website at https://www.scb.gov.bs/registrant-licensee-search/ Before engaging in business with any entity that claims or purports to be authorized and/or regulated by the Commission, you are advised to consult, in the first instance, the publicly available listing. If the entity in question is not listed there, please contact the Supervision Department to confirm whether it is registered or licensed with the Commission at sud@scb.gov.bs or by telephone at 397-4100. Complaints and/or any information pertaining to these entities should be sent to: Enforcement Department Securities Commission of The Bahamas E-mail: info@scb.gov.bs or enfdept@scb.gov.bs