TSSB sets aside Apertum Foundation fraud emergency order
As per a July 31st order, the Texas State Securities Board has opted to set aside its Apertum Foundation emergency order.
The order, issued on March 20th, pertains to ongoing alleged securities fraud. In addition to Apertum Foundation, TSSB’s order named Josip Heit, Dirc Zahlmann, Bruce Innes Wylde Hughes and Dennis Christopher Loos as respondents.
As per the July 31st “set aside” order;
Respondents … set forth certain defenses, including that they have not offered or sold securities, they have not acted as dealers, they have not engaged in violations of the Securities Act, and the digital asset at issue in the Emergency Order (the Apertum or “APTM” token) is not a security.
In line with these defenses, Respondents have submitted information sufficient to conclude that a dismissal of the Emergency Order is warranted.
Accompanying TSSB’s “set aside” order is a Motion for Dismissal, filed with the State Office of Administrative Hearings on July 31st. This pertains to the scheduled October Apertum fraud hearing.
It should be noted that TSSB’s order doesn’t pertain to DAO1, a reboot of Josip Heit’s collapsed GSPartners investment scheme.
Beyond common ownership, the link between DAO1 and Apertum Foundation is DAO1 runs its unregistered investment opportunities through Apertum Foundation’s APTM and WAPTM cryptocurrencies.
The relationship is similar to GSPartners using G999 to run unregistered investment schemes.
While I can see why they went for it, my take is proving APTM was a security in and of itself was always a long shot. It’s the equivalent of all the GSPartners fraud warnings pertaining to G999 (or later tether), instead of GSPartners itself.
If you’re wondering why TSSB didn’t go after DAO1 in the same manner they went after GSPartners, it’s because the hard counter to that is “we don’t offer DAO1’s unregistered investment schemes to US residents”.
The premise TSSB ran with for Apertum Foundation is that US residents could still purchase APTM despite DAO1 geo-blocking the US.
I think the take-away here for anyone thinking TSSB dismissing its Apertum order somehow legitimizes DAO1’s unregistered investment schemes, is to ask why DAO1’s investment schemes remain unavailable to US residents.
DAO1 securities fraud warnings remain in place in Australia and New Zealand.
TSSB’s GSPartners fraud hearing remains scheduled for November 3rd to 6th.
They are already spinning it as a win. I feel for the victims that will believe there new spin on this.
If a fraud order is voluntarily dismissed in a jurisdiction you don’t operate in (because… reasons), is it really a win?
Let’s say TSSB prevailed at the Apertum hearing. What would have changed? DAO1’s investment schemes are still unavailable to US residents (again, because… reasons).
Better put those purchased dead newspaper sites to use anyway I guess.
In contrast the GSPartners case is more straight forward (obvious unregistered investment schemes promoted and sold to US residents is obvious). Now if something were to happen to the GSPartners case, the new era of “crime is legal” strikes again.
Zahlmann and Heit hanging around with people from Hell Angels and Arabic Clans in Split, Croatia.
Josip Heit’s organised crime connections are well documented.
What does that say about a man who is a convicted fraudster and hangs around with heavily tattooed thugs? Birds of a feather flock together…
Uplines are saying a big court case just returned with a favorable verdict. Any insight on this?
Both upline have been very quiet. But both posted this news. Claiming within 90 days things should be back going. This is of course unless it’s appealed or another snag comes across.
That said no one is either upline i am in a group with, takes this news with anything more than a grain of salt.
I’d imagine they’re referencing the recent TSSB Apertum withdrawal. That said no verdict was reached in the case.
DAO1 as a fraudulent investment scheme isn’t going to be offered in the US, either over the next 90 days or ever, because reasons.
I have heard that Heit/GSP are back in negotiations with the TSSB and that they had approached the court with a joint request for the hearing to be stayed whilst they negotiate/settle.
The judge has apparently approved the stay, and has requested a few dates for check-ins.
Obviously the uplines will say this is a win. They have all forgotten that Heit had signed a prior settlement agreement where he agreed to signing a document that states that GSP offered illegal securities. I doubt he can walk that one back.
Oz – I will send you these docs as soon as I can get them.
@Johnny5 – have you heard anything about the refunds? In one of the last global calls, they had said that that Alixpartners have everything and that everyone is waiting on them.
Meanwhile Heit is flouting his connections to the criminal underworld by having lunch with Andrew Tate
Only thing either of my lines have said about the refunds is that they highly discouraged anyone to get them. That the delay in the refunds were due to the alexpartners end, not the gsp end at all. And that there are people receiving those refunds.
Uplines are mute for the most part. And no one is willing to give any real facts other than saying a big court case was a win and they expect funds to be available by the end of the year.