GSB and Texas re-engage GSPartners settlement negotiations
GSB has re-engaged settlement negotiations over GSPartners allegations made by the Texas State Securities Board (TSSB).
On August 5th a Joining Motion seeking a stay on TSSB’s GSB and GSPartners proceedings was filed.
As of August 4, 2025, the Parties are in settlement discussions that, if successful, will dispose of this matter without the need for a hearing.
The parties, therefore, jointly request that the above-captioned matter, including all pre-hearing deadlines, be stayed for six months.
On August 6th the requested stay was granted.
The Joint Motion to Stay Proceeding is GRANTED. This matter is stayed until February 6, 2025.
The court has ordered Joint Status Reports on settlement negotiations be filed on October 6th, December 5th (2025) and February 5th (2026).
Unfortunately the granted stay means a pending November 3rd to 7th GSPartners hearing is cancelled.
The hearing would have seen GSB and GSPartners owner Josip Heit (right) travel to the US to attend in person.
US authorities have pegged GSPartners investor losses at over a billion dollars. It’s unclear whether GSB’s motive for settling with TSSB is about consumer redress or keeping Heit out of the US.
BehindMLM has been aware of multiple US federal investigations into GSB and Heit since late 2023.
Outside of Texas multiple US states and Canadian provinces are participating in a GSPartners fraud settlement.
The GSPartners victim claim submission deadline was May 22nd. There have been no further public updates since.
Earlier this month TSSB voluntarily dismissed parallel proceedings against Apertum Foundation.
Apertum (APTM) is a crypto token Heit continues to defraud consumers with through DAO1. Apertum is to DAO1 what G999 was to GSPartners.
Both New Zealand and Australia have issued standing DAO1 fraud warnings. Heit doesn’t offer the DAO1 investment scheme to US residents.
As of July 2025, SimilarWeb tracked top sources of traffic to DAO1’s website as Germany (45%), the Dominican Republic (27%), the UK (9%), South Africa (5%) and the US (5%).
Can somebody explain how these crooks keep getting away with their scams with no action taken against them.
Innocent people continue to lose money and everybody standing around watching and doing nothing to stop them!!
@Craig stocker – I don’t interpret this as Heit/GSP getting away with anything. The stay is only in place while the parties negotiate, and it’s likely that the settlement may be even more favorable for the constituents that the TSSB are responsible to. Remember, the prior settlement (which is still in place for most of the US and Canada) has Heit committing to signing a document that states that he/his companies offered illegal securities after refunding everyone. I have to wonder if the TSSB would be able to enforce a refund should they have won in court as the matter was administrative. You might find that their actions are to try and secure real money from Heit instead of a judgement and slap on the wrist. The orders against Hughes and Zahlmann are final as well.