Andrew Eaton has claimed GSPartners is on the verge of negotiating settlements with US regulators.

Eaton, a top earner in the fraudulent investment scheme, leads a group of South African promoters under “GIHugeness” branding.

Speaking on an April 3rd “GIHugeness” GSPartners call, Eaton claimed;

Once everything is settled everything goes back to normal. But we need to settle.

In the settlement, what we have is a situation where eleven of the twelve states are happy to.

Florida are digging their heels in. Ironically Florida um… which the Florida regulators don’t know… we do have something. The thing that they’re accusing us of not having we do have but they don’t know that yet.

And once we settle guys … things pretty much go back to normal. I’m not going to obviously talk about here what that means but everyone who’s in the business knows what that means.

No supporting evidence for Eaton’s claims exist.

The only US state regulator GSPartners is known to have responded to is Arizona. A hearing on the matter is scheduled for September 16th, 2024 (ref: “Case Schedule”).

Last month Joe Rotunda, Enforcement Director at the Texas State Securities Board (TSSB), confirmed the TSSB’s emergency cease and desist against GSPartners remained in place.

Following a detailed undercover investigation, Florida’s Office of Financial Regulation, citing “unlawful activities”, issued a cease and desist against GSPartners, parent company GSB Gold Standard Corporation and owner Josip Heit (right) last November.

OFR detailed “unauthorized use of the term “bank” and securities fraud.

Typically a securities fraud settlement results in a permanent injunction being issued prohibiting further acts of securities fraud, disgorgement of ill-gotten gains and a monetary penalty.

Even if settlements were on the table (there is no evidence of any settlement negotiations between GSPartners and US regulators), how GSPartners could go “back to normal” as Eaton claimed is unclear.

There is also an ongoing federal US regulatory investigation into GSPartners simmering in the background.

Getting back to the GIHugeness call, Eaton went on to claim one regulator was giving GSPartners a hard time.

We really just need to play a game of chess with the regulators.

There is one regulator in particular outside of Florida, I’m not going to mention names or mention anything on this call either, but there is one regulator that is a bit of an asshole.

A single person who keeps coming back. Once we think we’re [indecipherable] he keeps coming back with another question etcetera.

But they’re literally a thousand percent certain of settlements. Once we’ve settled it pretty much goes back to normal.

Eaton claims he spoke to Josip Heit “over the weekend”. Eaton reports Heit “was in a very, very, really bad mood because of lack of sales.”

In a February filing as part of Arizona proceedings, Heit acknowledged that, as a result of US regulatory action, GSPartners’ “entire business has been effectively shuttered”.

Despite that, Eaton urged GIHugeness members to participate in a “two week burst” of recruitment of new victims.

The aim of the recruitment drive is to provide existing GSPartners victims with “cashflow”, with the campaign primarily directed at South Africa and Asia.

South Africa’s FSCA issued a GSPartners securities fraud warning last November. GSPartners and South African promoters like Eaton appear to be ignoring the warning.

Whether Eaton’s targeting of South Africa and Asia results in new victims being recruited into the collapsed scheme remains to be seen.

GSPartners’ December 2023 GSPro reboot was a flop, with website traffic going into decline from January 2024.

Billionico, a suspected planned backdoor for US and Canadian GSPartners investors, is scheduled to launch on April 19th.

Eaton states Heit will hold a GSPartners corporate call later today (April 4th). This follows a March 2024 corporate call that was cancelled hours prior for unknown reasons.

Social media posts suggest Heit travelled from Dubai to the Maldives for Easter weekend. Neither Dubai or The Maldives has an extradition treaty with the US.