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In September 2024, the Texas State Securities Board settled its allegations against Josip Heit and various other respondents often referred to as GSB Group or GSB Germany. The parties executed a term sheet that required Heit and other respondents, in part, to return all deposits, less withdrawals, to Texas clients.
Earlier this year, the agency accused Heit and others of violating the term sheet and intentionally, willfully or knowingly withholding and/or misrepresenting certain information. It filed a new case against Heit, as well as the Apertum Foundation, Dirc Zahlmann, Bruce Innes Wylde Hughes and Dennis Christopher Loos.[1] Heit and the Apertum Foundation requested a hearing on the new case, and the matter is now set for a hearing at the State Office of Administrative Hearings (SOAH) on April 8, 2025. The Notice of Hearing can be found here.
This hearing will be held by videoconference and you may be able to attend remotely. If you are interested in attending the hearing, you should consider contacting SOAH for information about accessing the videoconference. Its website is soah.texas.gov. Please note that the parties may request a continuance or the matter may be otherwise reset, so you should check with SOAH before planning to attend the hearing.
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March 20, 2025, PRESS RELEASE: Josip Heit Accused of Launching a New Fraudulent Investment Scheme DURING THE SETTLEMENT OF ALLEGATIONS OF PERPETRATING A PREVIOUS FRAUDULENT SCHEME / US CLIENTS ARE ALLEGEDLY BEING OFFERED DIGITAL ASSETS THAT PURPORTEDLY PAY “LIFECHANGING” RETURNS
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ORDER ENF-25-CDO-1889, MARCH 20, 2025: IN THE MATER OF THE APERTUM FOUNDATION, JOSIP HEIT, DIRC ZAHLMANN, BRUCE INNES WYLDE HUGHES AND DENNIS CHRISTOPHER LOOS
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NOVEMBER 16, 2024, PRESS RELEASE: GS Partners And Josip Heit’s Fraud Exposed by U.S. and Canadian Regulators
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ORDER ENF-25-CDO-1879, NOVEMBER 16, 2023: IN THE MATTER OF GSB GOLD STANDARD BANK LTD ET AL.
[1] Hughes, Zahlmann and Loos have not requested a hearing to challenge Order 1889 as of the date of this release. Order 1879 (including its findings of securities fraud) remains final and not subject to appeal as it relates to Hughes and Zahlmann. If anyone tells you otherwise, do not believe them.
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