GS Partners, Heit, Shoto Violated Mississippi Securities Act

Detected March 17th, 2026

Summary

The Mississippi Secretary of State has issued a Cease and Desist Order against GS Partners Global, Josip Heit, and Richard L. Shoto for violating the Mississippi Securities Act. The order alleges violations related to the offer and sale of unregistered securities, specifically 'Meta Certificates', and engaging in deceptive practices to recruit investors.

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What changed

The Mississippi Secretary of State has issued a Cease and Desist Order against GS Partners Global, Josip Heit, and Richard L. Shoto for alleged violations of the Mississippi Securities Act. The order details that GS Partners, controlled by Heit, marketed 'Meta Certificates' online and at seminars, promising guaranteed returns and recruiting members through a multi-level marketing structure. The respondents are accused of offering and selling these unregistered securities and engaging in practices that constitute violations of the Act, including implementing a 'market protection system' that restricted client withdrawals and increased fees following significant trading losses.

This enforcement action requires immediate attention from any entities or individuals involved in offering or selling securities within Mississippi, particularly those associated with GS Partners or similar investment schemes. Compliance officers should review their current offerings and marketing practices to ensure adherence to the Mississippi Securities Act. While no specific monetary penalties are detailed in this excerpt, continued non-compliance with a Cease and Desist Order can lead to significant legal and financial repercussions, including potential fines and further enforcement actions by the state regulator.

What to do next

Review all current securities offerings and marketing materials for compliance with the Mississippi Securities Act.
Cease and desist from any further sales or marketing of 'Meta Certificates' or other unregistered securities in Mississippi.
Consult legal counsel regarding potential implications of this order and any necessary filings or responses.

Source document (simplified)

OFFICEOFTHEMISSISSIPPISECRETARYOFSTATEWHEREAS,theSecretan;ofStateoftheStateofMississippi(“Administrator”)hastheauthoritytoadministerandprovidefortheenforcement0fallprovisionsoftheAct(“Act"),codifiedatCodeAnnotatedSections75—71-101to(2020);andWHEREAS,GSPartnersGlobal;JosipHeit:ANDRichardLsShoto(collectively"Resp011dents”)haveViolatedprovisionsoftheAct;andWHEREAS:theDivisionoftheSecretaryofState’sOffice(“Division”)istoissueanordertodirectanypersontoceaseanddesistfromengaginginanact.practice!orcourseofbusinesswhentheAdministratordeterminesapersonhasengaged.isengaging.orisabouttoengageinanact.practice,orcourseofbusinessconstitutingaviolationoftheActor aruleadoptedororderissuedundertheAct:andWHEREAS.actionbytheDivisioninthisinstanceisnecessaryandappropriateinthepublicinterestandfortheprotectionofinvestorsandisconsistent\iththepurposesfairlyintendedbythepolicyandprovisionsoftheAct:NOW,THEREFORE.theDivisionherebyentersitsOrdertoCeaseandDesist.I.FINDINGSOFFACTPartiesl.TheSecretaryofStatehastheauthority.pursuanttotheAct.toadministerandenforcetheActandtoregulatetheofferandsaleofinas\vellasthefimisandpersons\vhoofferorsellorwhoprovideadviceregardingPageofGSPartners.eta1,CeaseandDesistOrder3-23-6459SECURITIESDIVISIONINTHEMATTER0F:GSPARTNERSGLOBAL;JOSIPHEIT;ANDRICHARDL.SHOTOADMINISTRATIVEORDER8—23—6458ORDERTOCEASEANDDESIST

2‘RespondentGSPartnersGlobal(“GSPartners")purportstobeinvolvedindigitalbanking,COrporatefinance.andsolutions.GSPartnersconductsbusinessusingvariousnames.includingGSPartners:SwissValoremBankLtd.:GSBGoldStandardBankLtd;GSDeFi:GoldStandardTrade:GSTrade;6999;andLydianWorld.GSPartnersissuesforsalekn0\masMetaCei‘tificates.MetaCertiticatesaremarketedonlineandatseminarsin“hichMembersofGSPartnersrecruitpotentialcustomerstopurchaseMetaCertiticatesandregistertobecomeMembers.GSPartners’productsareOfferedandsoldthroughouttheUnitedStatesRespondent‘slastknounaddressisEmgateBuilding,Office745.SheikhRoad.AlWasl.Dubai,UnitedArabEmirates.Italsohasamailing addressof149aVaihingerstrasse.Stuttgart.Baden—Wuerttemberg.30337.Germanv.qPartners,aswellasothercompanieswithGSPaitners.HeitisnotaUnitedStatescitizen.Heit’slastknownaddressisEmgateBuilding.Office343-745.SheikhRoad.AlWasl,Dubai.UnitedArabEmirates.thesameasGSPartners.HealsohasaknownaddressofStradaAlexandrucelBunNr22,Galati.800193.Romaniaas“e11asaresidentialaddressof30HansPlace.London.GB.SW1XOJY.4.RespondentRichardL.Shoto(“Shoto”)isaknownandMemberofGSPartners.HehasamailingaddressofLonieDrive.Pearl.MS39208.aswellas3-157ForestHillRoad.Jackson.MS39212.ThesearelastknownresidentialaddresseswithRichardL.Shoto.3.Thearenotandhavenotatanytimebeenornotice-tiledwiththeDivisioninanycapacity.Events6.OnoraboutOctober13,2023,theDivisionbeganitsinvestigationintosecurities-relatedactivitiesandlearnedofthefollowingfactsandcircumstances.7.GSPartners,controlledbyHeit.anintemationalmarketingprogram,promisinginvestorsguaranteed.lucrativereturns.GSPartnersriseson—demand\vebinars.videoconferencing.andiii—personcorporateeventstotrainmarketersandpromote3.RespondentJosipl-leit("Heit")istheCEO.ChairmanoftheBoard,and/orcontrolpersonofGSPage2 ofGSPartners.etal.CeaseandDesistOrder8-23-6459

calledMetaCertiflcates‘Notableindividualsaffiliated\itliGSPartnersinitsmarketingprogramincludeBruceHughes,AlineLima.DircZalilmann.DennisUtiz.andMichaelDalcoe.8.TheinvestorswhopurchasearecategorizedasCustomersorMembers(alsocalledPartners).CustomerssimplypurchasetheMetaCertificates,\xhileMembersjoinGSPartnersbypayingaFixedamounteachmonthinadditiontopurchasingMetaCertiticates.Memberscanearnreturnsand/orincomebyrecruitingnewcustomersand/orMemberstoGSPartners.9.GSPartnersrecentlyexperiencedsignificanttradinglossesandinfomiedpurchasersthatthesetradinglossesnegativelyimpactedmanymembers.GSPartnersthereaftera“marketprotectionsystem”that.amongotherthings,placesnewrestrictionsonclientWithdrawalsandincreasesfeesforconvertingprofitsfromaninternalilliquidtokentoliquidexternaltokens.10.regulatorsfromtheUnitedStatesandCanadaidentifiedthethreatpresentedbyGSPartnersandorganizedaworkinggrouptocollectivelyinvestigateitsdealings.ll.TheAdministrator,incoordinationwithotherregulatoryagenciesfromtheUnitedStatesandCanada,isenteringthisOrdert0Cease andDesisttostopthepanicsfrominflictingimmediateandirreparablepublichamrUnregisteredMemCertificmesOffered/0rSaleam]S0111inl2.HeitandGSPartnerspromotethesaleofMetaCertificates.financialservices,investments,andtheirbusinessthroughinternetwebsitesaccessiblebyresidentsatgspartnersglobal(“GSPartners‘Website”).gsb.gold(“GoldStandardCorp.Website”)andg999maininet(“G999Website“).l3.TheGSPartners‘Websiteredirectsresidentstoanlnstagramaccount(@g999blockchain).Facebook\ebpage(@g999blockchain)andYouTubechannel(ht‘tps://\\V\'.youtube.com/@g999main)thatpromotedthesaleofuntilapproximatelyOctoberl,2023.whenreferencestoweresuddenlyremoved.l4iTheGSPartners’Website.availabletoprospectiveCustomersandMembers\Vhocreateanonlineaccount.describestheprocessofpurchasingasfollows:PageofGSPartners.eta1.CeaseandDesistOrder8-23-6459

A.CustomersandMembersmustconvertfiatcun‘encytocryptocurrencyUSDT(Tether):topurchaseMetaCerlif'lcates‘CustomersandMemberscannotusefiatcurrencyt0purchaseMetaCeniflcates‘TheUSDTmustbetransferredtoa walletontheGSPartners’WebsitewheretheCustomersandMemberscanselecttheMetaCertifrcatds)topurchase,B.UponpurchasingaMetaCeniflcate.CustomersandMembersmustthen“load”(ire,paymoney)their\Vithmorefundsuntilsatisfyingcertaininordertooptimizetheguaranteedreturns.typicallyincorporateasinglethreshold. oftenreferredtoasthe“mainload.”CustomersandMembersthatloadprincipalequaltoormorethanthemainloadhave“fullyloaded”theirMetaCertificates.C.CustomersandMemberswhomeetthemainloadrequirementsareentitledtoreceivetheguaranteedprofits,bonuses,and/orincome.WhenaCustomerorMemberfundsanaccountandpurchasesaMetaCertificate.they thenselectasectortoinvestin,suchasBlockfolio,RealEstate,Supplements.Fintech.Renewables,orOnlineGaming.Thesesectorspaydifferentratesofreturnsandbonuses.15.Noneoftheareasa broker-dealer.agent,advisor,oradvisorinthestateofMississippi.l6.Additionally.theRespondents’arenotasinandarenotexemptfrominMississippi,TlleLydianWorldMetaverseum]LYSTokenl7.GSPartnershasbeenpromotingLydianWorld,ametaversethatpermitsuserstoengageinvariousactivitiesthatpurporttoprovideincome.LydianWorldiscloselywithLydianStater(LYS).adigitalassetdeployedontheBinanceblockchain.l8.OwnersofLYScanalsostakeLYSinLydianWorldandreceiveupto22.8%APYasfollows:LYSstakingretumsayieldthatvariesbymonthduringthefirstyearand.assumingclientsstaketheirLYSformonths.theirAPYis14.8%duringthefirstvear:B.LYSstakingreturnsayieldthatvariesbvmonthduringthesecondvearand,assumingclientsstaketheirLYSformonths.theirAPI’is14.8%durcingthesecondvear:andC.LYSstakingreturnsavieldthatvariesbvmonthduringthethirdvearand.assumingclientsstaketheirLYSformonths.theirAPYis18.8%duringthethirdvear.l9,OwnersofLYSthatpaidUSDTandupgradedtheirmembershipwithGSPartnersareabletoacquireanNFT.Theseusers.andothersthatacquireNFTs.canusetheseNFTsinLydianWorldtoincreasestakingrewardsasfollows:Page4 ofGSPartners.eta1.CeaseandDesistOrderSvZ3-6459

InvestorscanloadoneNFT.anduptoNFTs,inthestakingpool:B.NFTSloadedinthestakingpoolsincreasetherewardsintheFmalmonthofthesecondandthirdyearsOfstakingby0.33%APYperNFT;andC.InvestorsloadingthemaximumnumberofNFTsintothestakingpoolreceive18.8%of14.8%APYduringthesecondyearand218%APYinsteadof188%inthethirdyear.20.Im'estorsreceived90%oftherewardsearnedfromstakingLYS.Theremaining10%ofstakingre“ardsaredistributedtotheVirtualcountn'inLVdianWorldwheretheusertheirKYC21.InvestorsstakingLYScanunstaketheirtokensatanytimebutmustpayapenaltyiftheyunstakebeforethethirdyear.Thepenaltyis14.8%ofthedepositedLYSinthefirstyear,18.8%ofthedepositedLYSinthesecondyearand22.8%ofthedepositedLYSinthethirdyearr10%ofpenaltiesaredistributedtotheVirtualcountryinLydianWorldwheretheusertheirKYC.TheMetriCerti/icaresAftercreating aCustomerorMemberaccount,prospectiveinvestorsmayusetheircredentialstoaccesstheGSPartnersPlatform(“GSPPlatfomf‘)‘AfteraccessingtheGSPPlatformiandconsistentwiththeirstatusas aCustomerorMember,investorsmaymintNFTs,purchaseeventtickets,managemarketingmatrixes.accessLydian World.attendcoursesatablockchainacademyandinvestinmanydifferentproducts.23.TheseproductsincludeElementalandSuccessSeries24.GSPartnersisusingthefollowingterminologytodescribethetennsoftheElementalandSuccessSeriesCertificates:InvestorspurchaseElementalorSuccessSeriesbytransferringdigitalassets.andthen“load”theirproductsbytransferringprincipalrB. Investorscan“load”principalintotheirElementalorSuccessSeriesCertiEcatesuntilthevalueoftheirprincipalmeetsorexceedscertainthresholds.Elementalgenerallyuseasinglethreshold,oftenreferredtoasa"mainload."Investorsthatpurchasecertificatesand“load”principalequaltoorinexcessofthemainloadhave‘ifullyloaded”amainload.C.SuccessSeriescanincorporatetwotiersofthresholds,andthesearereferredtoas“mainload1"and“mainload2.”Investorsthatloadprincipalequaltoorinexcessofmainloadlhave“fullvloadedmainload1"andinvestorsthatloadPageofGSPartners.eta1.CeaseandDesistOrderS-23-6459

principalequalto0rinexcessofmainload 2haVe“fullyloadedmainloadl“and“fullyloadedmainload2.”25.Investorsthatfullyload amainload.fullVloadmainloadlorfullvloadmainloadunlockincomestreamsorincreasetheValueoftheproductasfollows:AlThepurportedvalueofanElementalorSuccessSeriesmaybeincreasedbyacertainvalue.oftenreferredtoasa“bonus”or“bonusvaluef‘Bi Investorsmaybeentitledtoreceivemonthlypayments,sometimesreferredtoasthe“monthlypaybackprogrammeonload“orsimply“onloadf’C.Investorsmaybeentitledtoreceiveweeklypayments,sometimesreferredto asthe“weeklypaybackprogrammeonprice”or“onpriceofcertificatez"andD.InvestorsmaybeentitledtosomeutilityfromtheMetaCertificatewhenloadingprincipaltiedtosupplementsandgamingblockfolios.26,GSPartnersfrequentlyincentivizestheloadingofadditionalprincipalthroughvariouspromotions.Thesepromotionsmayincreasethevalueofacertificateorunlock\veeklyormonthlyincomestreams.27.EachElementalorSuccessSeriesCertificateiswithsixdifferent“blockfolios”thatrepresentspecificindustriesorsectors.InvestorsloadingElementalorSuccessSeriesmustfirstelectoneormoreofsix“blockfolios.”Theelectedblockfoliosdeterminethevalueofthemainload.mainloadl,mainloadand/orpromotionalload:as\vellasthetennsofthebonus,monthlypaymentsandweeklypayments.PaymentofPro/itsUsingInternalT0kenx,FeesfurConversion28.Purchasersareaffordedtheopportunitytocompoundcertainprofitsortowithdrawsaidprofits29.PurchasersaccesstheGSPPlatformtowithdrawprincipaland/orprofitsfromtheElementalandSuccessSeries30,Theprofitsarenotpaidinflatcurrency,populardigitalassetssuchasBTCorETH.orexternalstablecoinssuchasUSDT.Instead.GSPartnersclaimstouseproprietaryinternaltokenstopaywithdraws.l.TheproprietaryinternaltokensarerepresentedbythetickersGEUR.CVEUR,LEURandDEUR.Theyarehighlyilliquidassets.arenottradedonmostifnotallexternalcryptocurrencyexchangesandhavelittleornofairmarketvalue.Moreover,GSPartnersisnotprovidingclients\vithaccesstoblockexplorersPageofGSPartners.etal.CeaseandDesistOrder8-23-6459

forGEUR.CVEUR.LEURandDEURAandIhevarenotdisclosinginformationrelatingtotheirconsensusmechanisms,theircontractaddressesortheircontracts.Simplyput,GSPartnersisnotprovidingclientswithsufficientinformationt0showGEUR.CVEUR.LEURandDEURactuallvexist.32.GSPartnersmistakenlyandfalselyclaimsthatitusesproprietarytokenslikeCVEUR.whichrepresentsconvertibleeuro,insteadofexternaltokenslikeBTCandETHsoitcanpayrewardswithoutneedingalicense33.Not\'ithstandingtheforgoing.GSPartnersdirectsclientstotradetheseinternaltokensforexternaltokensthroughanexchangeaccessedthroughtheGSPPlatfonniGSPartnerschargesa2.5%feeforexchangingtheinternaltokenstoextemaldigitalassets.34.Clientsthatpaythe2.5%feetoexchangeinternaltokenstoexternaldigitalassetscanthentransfertheexternalassetstoanexternalwallet.Theymaypayfees.as“ellasgas.toconVerttheseexternalassetstofiatcurrency throughadifferentdigitalassetexchange.TheFinancialLosses11mltheImplementntionqftheMarketPrritectilmSystem35.OnOctober2,2023.GSPartnersannouncedthat"[m]etaportfolioaccountshaverecentlytakensomelosstradesinthemarket"Asdescribedherein.metaportfolioisablockfoliotiedtotheElementalandSuccessSeries36.TheselossesresultedinthevalueofloadsdecreasingformanyElementalandSuccessSeriesand,consequently,owners\Verenotbeingpaidtheirweeklyprofits.37‘GSPartnersencouragedinvestorstoeitherwaituntiltermandreceivedecreasedprofits.loadprincipalto satisfynecessarytoresumepaymentofweeklyrewards.or“waitandseeIFthereisanexchangeoptionintoBlockChainBonds.”38.OnOctober4.2023,GSPaitnersannouncedtheissuewasonlyimpactingtheElementaltiedtothemetaponfolioblockfolioandadifferentseriesofcertificatestied tothemetaportfolioblockfolio.39.OnOctoberll.2023.GSPartnersannouncedthat"[a]llMetaponfoliosthatwerepausedduetoloaddroppingbelow100%,willrestarttheirquarterlypayouts.monthsafterloadisreturnedabovePageofGSPartners.eta1.CeaseandDesistOrder8-23-6459

100%.“Italsoannouncedthat"[11]oquanerlypayoutsweremadeonthelstOctoberduetoNEGATIVEperfon‘nance.”40.GSPartnersthereaftertheMarketProtectionSystem(“MP5”).anditappliestoownersofElementalandSuccessSeriesCertifleates\‘ithdra\'ingweekly.monthlyorotherproFltspaidinGEUR.CVEUR.LEUR.DEURoranotherinternaltokenpriortotheendofterm.41,TheMPSclassifiedinvestorsaseitheranactivePartnerthatpaidUSDTorCustomersactingthroughafreeaccount.WhenPartnersandMemberswithdrawassets.theMPSpreventsthemfromreceivingthefullvalueoftheirwithdrawalandinsteadtransfersassetstoanundisclosedentityforundiscloseduserTheMPSinterfaceswiththeElementalasfollows:Partnersandmembersreceive75%inot100%,ofthevalueofthewithdrawalB.Forpartners,13.75%ofthevalueofthewithdrawalistransferredtoa“13monthlockupvehicle“and.forcustomers.15%ofthevalueofthewithdrawalistransferredtothe“13monthlockupvehicle.”Thelockupvehicleispurportedlydesignedto"increase[e]thevalueoftheblockchainandsecur[e]valueforlaterusebytheusers.”C.TheMPSreleases“gasfees.”withpartnersreceiving7.5%ofagasfeevalueandcustomersreceiving5%ofthegasfeevalue.D.GSPartnerscontinuescharginganadministrativefeeforconvertinginternaltokentoexternaltokens.Thefeeisincreasedto3.75%forpartnersand5%forcustomers.43.TheMPSinterfaceswiththeSuccessSeriesasfollows:Partnersandmember‘sreceive50%.not100%.ofthevalueofthewithdrawal.Forpartnersandmembers,30%ofthevalueofthewithdrawalistransferredto a“13monthlockupvehicle"purportedlydesignedto"increase[e]thevalueoftheblockchainandsecur[e]valueforlaterLisebvtheusers.C.TheMPSreleases“gasfees.“withpartnersreceiving16.25% ofagasfeevalueandCustomersreceiving15%ofthegasfeevalue.D.GSPartnerscontinuescharging anadministrativefeeforconvertinginternaltokentoextemaltokens.Thefeeisincreasedto3.75%forpartnersand5%forcustomer‘s.Page$ofGSPartners.etal.CeaseandDesistOrderS-23-6459

InvestmentAlertv/CmttionxIssuedbyCanadianRegulatorsCanadianregulatorshavebeenwarningthepublicaboutGSPartnersnotbeingortosolicitinvestors.45.OnApril24.2023,theAutoritédesmarchesfinancierswantedaboutGSPartners,GSBGoldStandardBankLTD,gspartnersglobal,gstradeexchangeandother\ebsites,cautioningthepromoters“isnottosolicitinvestorsinQuebec.”46.OnMavl9.2033.theAlbertaCommissionadded“GSPartners”and“GSTrade”toitsInvestmentCautionList,alistofcompaniesandindividualsnot\tiththeAlbertaCommissionerthatappeartobeViolatingrequirementsorperpetratingscams.”47.OnMay30.2023,theBritishColumbiaCommissionpublishedawarningthat“GSPartnersisnottotradein.oradviseon.orderivatiVes”inBritishColumbiaand“urged[BritishColumbia]residentstoexercisecautionwhendealingwithfirmsthatarenottotrade0radviseinBritishColumbia.”48iOnJune2.2023,theFinancialandConsumerAffairsAuthorityofSaskatchewanpublishedanamingthat"GSPartnersisnottotradeorsellorderivativesinSaskatchewan”andit"caution[ed]investorsandconsumernottosendmoneytocompaniesthatarenotinSaskatchewan.astheymaynotbelegitimatebusinesses.”49.OnOctober8,2023,theOntarioCommissionpublishedawarningthat“GSPartnersakaSwissValoremBank...isnotinOntariotoengageinthebusinessoftradinginsecurities.“II.CONCLUSIONSOFLAWl.Miss.CodeAnn.Section75-71—102(28)definesasecurityas,amongotherthings,anycontractand/orcertificateofdeposit.Heit,throughGSPartners.issuesandoffersforsaleMetaCertiticates.\Vhicharecertificatesofdepositsand/orcontracts.aretindertheAct.2.TheLYSStakingPoolisalmostexclusivelybeingmarketedasameansofgeneratingprofits.notreceivingrewardsbyinterfacingwithavalidatormaintainingtheintegrityofaproof-of—stakeblockchain.Moreover,investorsmustusetheplatformprovidedbyGSPartnersinLydianWorldtoearntheadvertisedPageofGSPartners.etal.CeaseandDesistOrderS-23-645‘)

profltsfromstakingassms.Forthesereasons,aswellasotherreasons.investmentsintheLYSStakingP001arecontractsinotes.ande\'idenceofindebtednesssregulatedasasthattermisdefinedinSection75-71—102(28)oftheAct.3.TheElementalandtheSuccessSeriescontractsareregulatedasasthattermisdefinedinSection75—71-102(28)oftheAct.4,Miss.CodeAnn.Section75—71—102(26)definessaleandoffertosell.“Sale”includeseverycontractofsaleor,contracttosell,ordispositionofasecurityorinterestinasecurityforvalue.“Offertosell"includeseveryattempttoofferordisposeof,orsolicitationofanoffertopurchase,asecurityorinterestinasecurityforvalue.Thus.areofferedand/orsoldtindertheAct.a.Miss.CodeAnn.Section75-71—102(4)definesbroker-dealerasanypersonengagedthebusinessofeffectingtransactionsinfortheaccountofothers orfortheperson’sownaccount,GSPartnersandHeitengagedinthebusinessofeffectingtransactionsinfortheaccountofothersand/orfortheirownaccount.Thus.GSPartnersandHeitactedasbroker-dealersunderthe Act.6.Miss.CodeAnniSection 75-71-102(2)definesagentasanyindividualwhorepresentsabroker—dealerineffectingorattemptingtoeffectsalesofShotorepresentedGSPartnersandHeitineffectingorattemptingtoeffectthesalesofThus.ShotoisanagentundertheAct.7.Miss.CodeAnn.Section75-71-102(15)definesadviserasanyperson\Vho. forcompensation,engagesinthebusinessofadvisingothers.eitherdirectlyorthroughpublicationsor\ritings.astothevalueofsecuritiesorastotheadvisabilityofinvestingin,purchasing,orsellingor\yho.forcompensationandasapartofaregularbusiness.issuesorpromulgatesanalysesorreportsconcerningGSPartnersandHeitadviseothersastotheadvisabilityofinvestingin.purchasing.and/orsellingforcompensation,andthusareadvisersunderthe Act.8.Miss,CodeAnn.Section75-71-702(16)definesadviserasanyindividualemployedbyorwithan investmentadviser.whomakesanyrecommendationorotherwiserendersadviceregardingShotoiswithGSPartners“hichrecommendedPageofGSPartners.eta].CeaseandDesistOrder8-23-6459

and/0rrenderedad\‘iceregardingMetaCeniflcates.Thus,ShotoisanadvisermpresentativeundertheAct.9.PursuanttoMiss.CodeAnn.Sections75-71—401and75-7l-402,itisunlawfulforanypersont0transactbusinessinthisstateasabroker—dealeroragentforunlessthatpersonisundertheAct.GSPartners.Heit:andShotoarenotasbroker—dealersoragentsinviolationoftheActr10.PursuanttoMiss.CodeAnn.Sections75—71-403and75»7l-404,itisunlawfulforanypersontotransactbusinessasan investmentadviseroradviserunlessthatpersonisundertheAct.GSPartners,Heit.andShotoarenotasadvisers oradviserrepresentativesinviolationoftheAct.llrPursuanttoMiss.CodeAnn.Section75-7l~301,itisunlawfulforanypersontoofferorsellanysecurityinthisstateunlessitisregistered.subjecttoanexemption fromregistration.orthetransactionisafederallycoveredsecurity.arenotnotexempt,andnotafederallycoveredsecurity.GSPartners.Heit,andShotoallofferedand/orsoldunregisteredininviolationoftheAct.l2.PursuanttoMiss.CodeAnn.Section75-71—604,iftheAdministratordetenninesthatapersonhasengagedinorisabouttoengageinanyactorpracticeconstitutingaviolationofanyprovisionofthischapteroranyruleororderhereunder,theAdministratoristoissueaceaseanddesistorder,\vithoutapriorhearing.againstanypersonengagedinanyactorpracticeconstitutingaviolationoftheAct.l3.Duetotheaboveallegedfacts.areengaginginfraudinconnection\viththeofferforthesaleofl4.aremakingofferscontainingstatementsthataremateriallymisleadingorotherwiselikelytodeceivethepublic.15.conduct.acts.andpracticesthreatenimmediateandirreparablehann.l6.TheforegoingviolationsconstitutebasesfortheissuanceofanOrdertoCeaseandDesistpursuanttoSection75—71—604oftheAct.PagellofGSPartners.eta1.CeaseandDesistOrder5-23-6459

ORDER1. ItisthereforeORDEREDthatimmediatelyCEASEANDDESISTfromofferingforsaleanysecurityinuntilthesecurityiswiththeDivision01'isofferedforsalepursuanttoanexemptionfromundertheAct.Z.ItisfunherORDEREDthatimmediatelyCEASEANDDESISTfromacting asbroker-dealers.agents.advisors,0radViserrepresentativesinuntiltheyarewiththeDivisionor actingpursuanttoanexemptionfromundertheAct.3iItisfurtherORDEREDthatimmediatelyCEASEANDDESISTfromofferinginorfromthroughanoffercontainingastatementthatismateriallymisleadingorotherwiselikelytodeceivethepublic.4.ItisfurtherORDEREDthatimmediatelyCEASEANDDESISTfromengaginginanyfraudinconnectionwiththeofferforsaleofanysecurityinorfromMississippi.IV.RIGHTTO ANADMINISTRATIVEHEARINGIfthewishtocontesttheallegationssetforthaboveorofferevidenceandargumentstomitigatetheallegations,thenthemustfilearequestforhearingSuchrequestshallbemadeinwritingtoEricS.Slee.AssistantSecretaryofState,Division,SecretaiyofState’sOffice:Post OfficeBoxI36,Jackson.MS39205.withinthirty(30)daysfromthedateofreceiptofthisOrdertoCeaseandDesist.Withinfifteen(15)daysaftertherequest,thematterwouldbescheduledforahearing.Intheeventsuchahearingisrequested.themayappear.withorwithouttheassistanceofanattorney.ona dateandatatimeandplacetobespecifiedandcross-examinewitnesses,aswellaspresenttestimony.evidence.andargumentrelatingtothematterscontainedherein.Uponrequest,subpoenasmaybeissuedfortheattendanceofwitnessesandfortheproductionofbooksandpapers0ntheRespondents’behalfatthehearingrelatingtothematterscontainedherein.Ifanadministrativehearingisrequested,writtennoticeofthedate.time.andplacewillbegiventoallpartiesbycertifiedmail,returnPageofGSPartners.eta1.CeaseandDesistOrder8-23-6459

receiptrequested.Saidnotice\VillalsodesignateaHearingOfficer.Ifarequestforhearingisnottimelyfiled.thisOrderbecomesfinal,Withoutanyfurtheraction.byoperationoflaw.RIGHTTOAMENDTheSecretaryofStateherebyreservestheright t0amendthisOrdertoCeaseandDesist.ISSUED,thistheg/Q%da)'ofDecember2023.MichaelWatsonSecretarvofStateKBY:EricS.SleeAssistantSecretarVofStateDivisionPageofGSPartners.eta1.CeaseandDesistOrderS»23-6459

CERTIFICATEOFSERVICEI.EricS.SleeldoherebycenifVthatIhavethisday.mailedatrueandcorrectcopy:Viacertifiedmail,returnreceiptrequested,oftheOrdertoCeaseandDesisttothefollowing:GSPartnersGlobalEmaateBuildingOffice343—745lSheikhZaV'edRoadAlWasl.Dubai.UnitedArabEmiratesJosipHeitEmeateBuildingOffice343—745SlieikhZavedRoadAlWasl.Dubai.UnitedArabEmiratesRichardLiShotoLonieDrivePearl.MS39208GSPartners.etal.c/oSecretaryofStateofMississippiDivisionPostOfficeBoxJackson.MS39205ThistheémdayofDecember.2023.EricS.Slee.MSB#106525SecretaryofState‘sOfficePost OfficeBoxJackson.39205(601)359—1334(601)359-9050PageofCeaseandDesistOrder/EricS.SleeAssistantSecretaryofStateDivisionGSPartners.eta1.S-23-6459