Last May, when GSPartners showed off its “metaverse certificates” Ponzi scheme, BDSwiss was shown as a trading partner.
So, the trick was that BDSwiss was trading funds that had been invested so that GSPartners could pay up to 480% a year.
Now, about eight months into what was said to be an agreement, BDSwiss says there was no partnership.
A reader of BehindMLM wrote to BDSwiss to ask why the broker, which says it does an average of $84 billion in trades per month, was working with a Ponzi scheme.
Here’s what BDSwiss Global Support had to say:
We can say for sure that BDSwiss and GS Partners do not work together.
Our legal team is looking into the situation and will take action if these claims are true.
In GSPartners’ metaverse certificate Ponzi scheme, BDSwiss has been used a lot.
In May 2022, someone claiming to be a BDSwiss executive took the stage at a GSPartners event to confirm the partnership and promote it.
Even though it has nothing to do with GSPartners’s fraud, the fact that BDSwiss was registered with financial regulators was a big selling point.
And affiliates of GSPartners who want to find new victims have repeated this selling point:
It will be interesting to see if BDSwiss’s legal investigation leads to anything.
This isn’t the first time GSPartners has been in trouble for making up partnerships between companies.
One of GSPartners’s previous Ponzi schemes, JONE tokens, was based on the idea that GSPartners and Accor Group would work together.
Movenpick Hotels and Apartments was owned by Accor Group, and GSPartners said that it had bought a number of apartments from Movenpick in Dubai. The trick was that GSPartners would divide the floor space into tokens, sell these tokens to affiliate investors, and then rent out the space to make money from outside sources.
When Accor Group heard about the supposed partnership, they said that GSPartners did not have permission to sell their property.
A stop and don’t do it letter was also sent to GSPartners’ Dubai-based property developer. After all of this happened, GSPartners’ JONE token Ponzi scheme came to an end and was never talked about again.
Back to BDSwiss, once the broker is out of the picture, GSPartners’ plan to make money from metaverse certificates outside of the company falls apart.
We know that new investments pay for metaverse certificate withdrawals because that’s how the business has always worked, but it will be interesting to see if a new scam comes up now that BDSwiss are gone.
GSPartners sold LYS tokens and G999 before metaverse certificates. LYS is now less than $10, and G999 is only $0.0019.
The metaverse certificates Ponzi scheme is run with the help of GEUR, which is yet another token. GEUR is backed by GSPartners and is tied to the euro.
The problem is that GEUR doesn’t exist outside of GSPartners, so it’s really tied to new investments.
If there are any new developments, we’ll let you know.