The Texas State Securities Board has accused a network of companies operating from Germany, under the "GS" brand, of engaging in fraudulent activities related to digital assets and investments in a proprietary metaverse. The network is controlled by Josip Dortmund Heit. The companies, including GS Partners, GS Smart Finance, and GS Wealth, conducted three rounds of metaverse property sales starting in September 2021. Investors were offered the opportunity to purchase XLT Vouchers or BNB Chain tokens that represented ownership of one square inch of a unit in the company's G999 Tower metaverse, priced at 9.63 Tether (USDT) per voucher. However, the value of the token plummeted to less than 0.0000049 USDT each on PancakeSwap, a decentralized exchange, after failing to meet its $175 million fundraising target. The Texas State Securities Board has taken emergency enforcement action, ordering the GSB group of companies to cease and desist from these activities. Other products offered by GSB, including Lydian World metaverse tokens, gold tokens, G999 coin, and Elemental Certificates, are also alleged to be unregistered security offerings. Read more AI-generated news on: https://app.chaingpt.org/news