The German group is accused of running a multilevel marketing scheme that took in hundreds of millions of dollars in supposed crypto and metaverse investments.
Securities regulators in 12 US states have secured reimbursement for investors who lost money in an investment scheme that included the Lydian.World metaverse, cryptocurrency and the tokenized partial ownership of a metaverse skyscraper.
According to the North American Securities Administrators Association (NASAA), the regulators reached a settlement with a group of German companies associated with Josip Heit and known collectively as the GSB Group for the return of all money and cryptocurrency deposited with GSB Group for any purpose.
According to a statement released by the legal representatives of Heit and GSB Group, US investors in the settling states will receive compensation and those states “will withdraw all prior allegations of fraud or dishonest practices.”
