Just days after a marketing event was held in South Africa, the Financial Sector Conduct Authority has issued a GSPartners securities fraud warning.

As per the FSCA’s November 22nd fraud warning;

It has come to the attention of the Financial Sector Conduct Authority (FSCA) that GS Partners also known as GSP or Gold Standard Partners (GS Partners) are soliciting investments in South Africa.

GS Partners is not licensed under any financial sector law to provide financial products or financial services in South Africa.

By failing to register with the FSCA, GSPartners and its promoters are committing securities fraud in South Africa.

Addressing GSPartners’ business model, the FSCA writes;

The FSCA is concerned about the unrealistic returns offered by GS Partners, and is conducting a preliminary investigation into its activities in South Africa.

The FSCA has contacted GSPartners and given them until November 24th to reply. When the FSCA contacted GSPartners is unclear.

Of note is a number of GSPartners insiders and executives are from South Africa. These include Bruce Hughes, Andrew Eaton and Antonio Euclides Menesis De Gouveia (aka Tony De Gouveia).

Someone else of potential interest to the FSCA and US authorities is Schalke van der Merwe.

In violation of New York and federal US securities laws, Merwe is promoting a GSPartners “live business presentation” in early December.

Last year Van der Merwe and his wife were charged with conspiracy to commit murder.

In addition to South Africa, GSPartners has received multiple fraud warnings and regulatory lawsuits from the US and Canada.

In the US these include Texas, Washington, Alabama, California, Wisconsin and Kentucky.

In Canada fraud warnings have been issued by British Columbia, Ontario, Alberta (G999, GSTrade and GSPartners), Quebec, and Saskatchewan.

The British Columbia Securities Commission has also taken action against three GSPartners promoters, among them top ranked Nitsa Nakos.

GSPartners is run by Josip Heit (right).

Following the US regulatory fraud warnings last week, Heit failed to personally attend the South Africa event over the weekend.

Along with other GSPartners top brass, Heit is believed to be hiding out in Dubai.

Pending any updates on the FSCA’s ongoing investigation into GSPartners, stay tuned…