GSPartners Review: Website Shutdown and Regulatory Warnings
GSPartners, a company that has been under scrutiny for its controversial business model, has recently disabled its website. Attempts to visit their once-active website, “gspartners.global,” now lead to a “domain parked” message, indicating the site is no longer active. This move follows a series of regulatory warnings, including actions from major financial authorities like the Australian Securities and Investments Commission (ASIC) and the Financial Markets Authority (FMA), which have raised concerns about the company’s operations.
Website: http://gspartners.global/
Website Availability: No
Address: NA
Regulation: No Regulation
Warning: Australian Securities and Investments Commission (Australia) and Financial Markets Authority (New Zealand)
Domain Age:
- Name gspartners.global
- Registry Domain ID c61e7de1beb24b298a32ee0a35208abc-DONUTS
- Registered On 2020-04-09T08:13:30Z
- Expires On 2025-04-09T08:13:30Z
- Updated On 2024-11-11T14:30:24Z
Negative Reputation and Allegations of Fraud
GSPartners has garnered a significant amount of negative reviews, with Trustpilot users expressing frustration and concerns about their involvement with the company. Many users claim that the company collects money from new investors, promising high returns, but eventually locks those funds in with the promise of bonuses after 18 months.
This model relies heavily on recruiting new members, where those who enter early benefit from the actions of others. Critics argue that this creates a dangerous environment, where early participants can make money by capitalizing on the vulnerability of others who join later. This cycle, some say, is unsustainable and ultimately harms individuals hoping to make a profit.
Complaints About Unchanged Terms and Fees
One investor shared their experience of investing in GSPartners, only to be disappointed when the company changed the terms of their investment, halting the return on their certificates. The company then imposed a substantial penalty of 27% to reinstate the certificates, along with a withdrawal tax for any future withdrawals. Although the investor mentioned that they were not greatly affected financially, they strongly advised others to stay away, warning that GSPartners does not appear to be registered to sell securities in any known jurisdiction.
Regulatory Actions and Cease and Desist Orders
Multiple jurisdictions have issued cease and desist orders against GSPartners in recent days, highlighting the growing concerns about the company’s compliance with financial regulations. Despite claims of being compliant, the company has failed to provide the necessary legal documentation to operate in many regions, further strengthening the argument that it may be operating unlawfully.
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