Attorney General Alan Wilson issues Investor Alert: South Carolinians who invested with GS Partners may begin filing claims

(COLUMBIA, S.C.) – Attorney General Alan Wilson says his office’s Securities Division is alerting South Carolina residents who invested with GSB Gold Standard Corporation, AG, GSB Standard Bank LTD, and affiliated companies doing business as GS Partners, that they may be eligible to recoup funds in a 90-day claims process that officially started February 21, 2025.

All claims must be submitted during the 90-day claims process that will close on May 22, 2025. The claims process is being administered by the global consulting firm, AlixPartners LP.  The official claims website for the “Gold Standard Bank Settlement Program” can be found at https://gsbsettlement.com.

This claims process will allow South Carolinians to request a return of any fiat and cryptocurrency deposited with the GS Partners entities, regardless of the product or service they purchased from these entities. This will be the only opportunity for the South Carolina customers to seek refunds. U.S. and Canadian customers cannot retain their certificates and earn interest or other rewards, and these customers also cannot roll over into a new product.

The website at https://gsbsettlement.com is the official claims website. It currently includes links to FAQs – Who is eligible? as well as the Required Supporting Documents needed to file a claim. The website also summarizes the claims process. AlixPartners is the only entity in charge of the claims process. South Carolinians wishing to make a claim are cautioned to use the official claims website only. 

In October of 2023, the South Carolina Attorney General’s Office joined with other U.S. state and Canadian provincial securities regulators who were investigating GS Partners, and the alleged sale of certain unregistered securities. Once funds are successfully returned to eligible customers, the Securities Division will recommend the Attorney General enter a consent order that concludes that GS Partners and its owner offered and/or sold securities that were not registered under state law. GS Partners acknowledges that it stopped operating in North America by December of 2023.

The Securities Division can be reached by calling 803-734-9916 or by email to [email protected]. Investors can submit a complaint or learn more about the Securities Division by visiting the Attorney General’s Office website at https://www.scag.gov/inside-the-office/legal-services-division/securities/.