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Fraud News: Swiss Velorem Bank Case (2024)

In mid-May, Swiss Valorem Bank began its operations. Changing GSPartners to the name of the business. Josip Heit is the owner and manager of GSPartners. Heit was born in Croatia, yet he claimed to be German.


GSPartners was established in 2021, a year after the KBC bitcoin Ponzi scheme operated by Karatbars International was exposed.

Harald Seiz, the company’s owner, served as its manager. During 2017 or 2018, Seiz collaborated with Heit and his Gold Standard Bank.

About halfway through 2019, Karatbars International was able to launch KaratGold Coin (KBC) because of Heit’s relationship with Seiz.

The stock price of KBC fell by 62% in the days after the disastrous launch.

For the bulk of 2019 and 2020, Seiz and Heit stayed out of the public eye while they hoarded the investor money they had stolen.

Early in the 2020s, “Gold Standard” made its appearance with the introduction of a brand-new token reboot. G999 was a factor once more.

Harald Seiz and Josip Heit became estranged over the Gold Standard. Heit decided to launch GSPartners in the second half of 2020 and leave Karatbars International as a result.

Earlier in 2020, Karatbars had already developed the G999 coin; this token served as the foundation for GSPartners, a straightforward multi-level marketing cryptocurrency investment plan.

G999 was of absolutely no use at GSPartners. In February 2021, the currency was demonetized and released to the general public.

The Ponzi scheme had to occur since early GSPartners investors ditched their currencies so quickly. G999 never got better.

Heit has released several unsuccessful iterations of the G999 investment plan after GSPartners’ first launch;

  • The J One Real Estate Enterprise in Dubai failed in June 2021. The Lydian World metaverse was robbed in July 2021, involving real estate and the XLT token, which took the place of the JONE currency.
  • Lydian Lions vs. NFT Grift match (January 2022).
  • The LYS token, which was established at the beginning of the Lydian Lions NFT fraud, was artificially inflated to $1800 in early 2022 and is now trading at $3.23.
  • GSPartners’ “metaverse certificates” investment program came to life in May 2022. This happened concurrently with the launch of GEUR, an alternative token.

Despite being tied to the euro, GEUR cannot be traded publicly and is only available to GSPartners.

GSPartners got regulatory fraud warnings from many nations during the next year:

  • In June 2022, the Central Bank of the Comoros sent out a warning after seeing questionable activities at GSB Gold Standard Bank LTD.
  • In March 2023, the Alberta Securities Commission in Canada issued a warning on the GSTrade and G999 security fraud.
  • In March 2023, GSPartners received a notification from the Autorite des Marches Financiers in Quebec, Canada, about possible securities fraud.
  • In May 2023, the proprietor of GSPartners’s former financial services supplier was taken into custody.
  • In May 2023, the Alberta Securities Commission issued a public warning on a GSPartners scam.

In mid-May 2023, GSPartners changed their name to Swiss Valorem Bank in response to mounting regulatory worries about possible fraud. 

Following the rebranding, Swiss Valorem Bank and GSPartners have received securities fraud warnings from Saskatchewan and British Columbia.

Since GSPartners introduced the metaverse certificates in the middle of 2022, two further iterations have been made available. The third, “elemental certificates,” was introduced along with the renovation of the Swiss Valorem Bank.

The Swiss Valorem Bank has designated the following people as insiders in addition to Josip Heit:

  • Alex Oelfke – CEO advisory for Skyground and GSBDSwiss member
  • Ehssan Memarpuri – Chief Executive Officer of VII Real Estate and SwissValue
  • Roger Hassanov – Chairman of the Swede Shield and advisor SwissValue
  • Dirc Zahlmann – Head of M&A at GSB and marketing consultant
  • Alex Cocindau – Creator of Lydian World, Group CTO
  • Frank Deyle – SwissBenesse member and SwissValorem Marketing Advisor
  • Dennis Uitz – Dennis Uitz CEO of Trading Academy
  • Aline Lima – Relationship Manager for Partners and GSBDSwiss advisory member
  • Bruce Hughes – Corporate Trainer at GSB
  • Andreas Evripidou –Account Manager for Banking Partners Swiss Valorem

Please take notice that shortly after GSPartners was established, Josip Heit moved from Germany to Dubai. GSPartners is managed from Dubai even though it has connections to the German front business GSB Gold Standard Corporation AG. This was not an accident. Dubai is renowned as the global center of multilevel marketing crime. 

On its website, Swiss Valorem Bank also lists the following other shell companies:

  • Swiss Valorem Bank LTD (Kazakhstan)
  • IBBP Pay Services LTD (Kazakhstan) and
  • CoinX24 AG (Switzerland)
  • GSB Gold Standard Bank LTD (fake Mwali shell company)

Concerning the Swiss Valorem Bank, BehindMLM has drafted laws for Dubai. Anyone contacting you from Dubai who offers you a multi-level marketing opportunity is likely attempting to deceive you.

Fraudulent behavior is being committed by any multi-level marketing firm that makes exaggerated claims about being present in Dubai.

Swiss Valorem Bank Products

The Swiss Valorem Bank does not provide any goods or services to the general public.

Affiliates are only allowed to promote the Swiss Valorem Bank associate membership.

Swiss Valorem Bank’s Reward Program

The tether (USDT)-backed “elemental certificates” that the Swiss bank refers to are purchased by its affiliates.

  • Terra USDT 100
  • 250 USDT for light
  • Water costs $1000T
  • 2500 USDT Wind
  • 5000 USDT for nature
  • 10,000 USDT for fire
  • 25,000 USDT for the heart
  • 50,000 USDT for space
  • 100,000 USDT for Prana

There are six distinct theme levels to choose from, and this is done by using a passive return:

  1. In the fintech sector, earn 5% weekly for 52 weeks and get a $3,500 USDT incentive.
  2. The meta portfolio will provide 2.5 percent weekly returns for 52 weeks, with a 2,000 USDT bonus given out at the end of the 52 weeks. For 52 weeks, real estate will earn 3.5 percent weekly in addition to a bonus of 3,000 USDT.
  3. green energy: 4% weekly for 52 weeks; after that time, a bonus of $4,000 USDT is awarded.
  4. Reinvestment is needed every three months. Increases: 5% weekly for 52 weeks, with a bonus of $4,000 USDT at the end of the 52 weeks.
  5. After the 52 weeks, there is a $4,000 USDT gaming bonus available in addition to a weekly return of 4% (reinvestment needed every three months).

Remember that incentives are distributed using GEUR, a cryptocurrency that has no value outside of the Swiss Valorem Bank.

The Swiss Valorem Bank asserts that the euro and GEUR are inseparable. Real cryptocurrency may be exchanged in the back office of Swiss Valorem Bank.

Swiss Valorem Bank affiliates may choose to support any of the six levels to boost their initial contributions:

  • Financial technology: 1.5% monthly for 24 months on top of excess investment
  • The meta-portfolio gives out a variable return every three months for a total of eighteen months.
  • Investment in real estate carries an interest rate of 1.5 percent each month for 36 months.
  • Renewable energy: a 1.5 percent monthly payment for further investment for 30 months There seems to be no additional return on investment (ROI) for supplements.
  • Gambling – it seems that there is no further return on investment.

The most you appear to be able to invest in it is the price of a certificate.

For instance, a water certificate may cost between $1,000 USDT and $6,000 USDT and include six tiers. Therefore, you can contribute an extra 1000 USDT at each level.

Swiss Valorem Bank’s multi-level marketing firm pays commissions for bringing in new affiliate investors.

Affiliate Ranks for Swiss Valorem Bank

Swiss Valorem Bank has eleven affiliate grades in its pay scheme. The following are listed, along with the particular requirements for each:

Invest and become one of the affiliated Swiss Valorem Banks.

To become a director, you must find three affiliates and generate 9999 USDT in downline investment volume (capped at 3999.6 USDT for each recruiting leg).

Maintaining three affiliates that you recruited may earn you 29,999 USDT in downline investment as a regional director (limited at 11,999.6 USDT from any recruiting leg).

If you keep three affiliates that you recruited, you as a national director may earn 59,999 USDT in downline investment (capped at 23,999.6 USDT from any one recruiting leg).

Until you hire six affiliates and get 99,999 USDT in downline investment (with no more than 39,999.6 USDT from any recruiting leg), you are not eligible to advance to the executive level.

With six independently hired affiliates and no recruiting leg producing more than 119,999.6 USDT, Continental Executive hopes to generate a downline investment of 299,999 USDT.

An international executive is in charge of six affiliates that they individually recruited and 599,999 USDT in downline investment (with no more than 239,999.6 USDT coming from anyone recruiting leg).

If an ambassador brings in nine affiliates and generates 999,999 USDT in downline investment, they may earn up to 399,999.6 USDT from a single recruiting leg.

It is necessary for you to maintain a downline investment of 2,999,999 USDT as a global ambassador and to earn at least 1,199,999.6 USDT from each recruiting leg. You also have to manually find nine affiliates.

Holding onto nine affiliates that you recruited and earning 2,399,999.6 USDT in downline capital (with no more than 2,399,999.6 USDT from any recruiting leg) are the goals of becoming a Crown Ambassador.

Advisory Commissions

The Swiss Valorem Bank affiliate receives 15% of all investments made by affiliates they recruited.

Swiss Velorem Bank: Recurring Commissions

By the following system, Swiss Valorem Bank distributes residual commissions to its customers:

  • Affiliates assume command of their corresponding unilevel groups.
  • They immediately report to direct recruiting at Level 1.
  • people recruited at Level 1 from Level 2 by affiliates at higher levels, etc.
  • Levels may continue indefinitely, however commissions are only paid out till Level 9.

To pay residual commissions, the Swiss Valorem Bank uses a unilevel compensation scheme. This method may go up to nine layers deep, and it gives affiliates a cut of their recruits’ investments. Here are the commissions, broken out by level: 

On Level 1, directors earn 18%; on Levels 2–9, higher positions receive extra percentages; and the most diverse percentages are given to crown ambassadors. 

The bank also offers an Accelerator Pool, where affiliates are given funds based on their rank and backed by a portion of the total investments. 

Also, the bank offers a BlockStar Pool where affiliates may earn shares and incentives when they meet monthly investment goals; the pool contributes 4% of the overall investments. 

Additionally, affiliates may earn a 25% match on their recruits’ income by joining the BlockStar Pool.

Connecting to Swiss Valorem Bank

Swiss Valorem Bank levies a monthly affiliate membership fee of 33 USDT.

It takes a minimum investment of 100 USDT to fully participate in the associated income opportunity.

One possible investor in tether and USDT, two cryptocurrencies that resemble Bitcoin and Ethereum, is the Swiss Valorem Bank.

Conclusion: Swiss Valorem Bank

Swiss Valorem Bank offers quite a few multi-level marketing possibilities. Certificates are bought by affiliates in the hopes of generating passive revenue.

The multi-level marketing business of Swiss Valorem Bank operates more like a pyramid scheme since it doesn’t target ordinary consumers.

Note that the “elemental certificates” that Swiss Valorem Bank is offering are the third (or fourth?) iteration of the identical investment strategy.

The first “planet certificates” (sometimes referred to as “metaverse certificates”; see below for a bigger version) were:

Swiss Valorem Bank affiliates seeking significant returns may benefit from the bank’s complex investment plans, which include “elemental certificates,” the priciest of which can fetch up to 1.3 million USDT. 

Despite the bank’s promotion of higher return on investment via further certificate releases, it has come under suspicion due to illicit stock trading and a lack of audited financial reporting. 

Although American authorities have not yet taken any action, Canadian regulators have issued warnings, and the bank’s website gets a significant amount of traffic from the US. 

If the bank’s Ponzi scheme is unable to regularly attract affiliates, the majority of investors stand to lose money. 

The plan’s dependence on ongoing investment presents serious risks and raises legitimate questions about its viability.

Financial Scam: SD Bullion Review (2024) – Huff Press (huffingtonpress.com)

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