Latest Updates on GSB and Apertum Texas Fraud Hearings
To keep you informed without repetitive articles, here’s the latest on the Texas State Securities Board (TSSB) fraud cases against GSB and Apertum, including key parties and hearing schedules as of June 1, 2025.
Who’s Involved?
- TSSB v. GSB: TSSB is suing GSB Gold Standard Bank LTD (and related entities like GS Smart Finance, GSPartners, etc.) and Josip Heit.
- TSSB v. Apertum Foundation: TSSB is targeting Apertum Foundation, Josip Heit, Dirc Zahlmann, Bruce Innes Wylde Hughes, and Dennis Christopher Loos.
GSB Fraud Hearing Updates
- Originally set for August 11–14, 2025.
- On May 7, GSB requested a delay due to scheduling conflicts with the Apertum case.
- On May 16, the court rescheduled the hearing for October 20–24, 2025.
Apertum Fraud Hearing Updates
- Initially scheduled for June 2–4, 2025, after a continuance granted on April 14.
- April 23: GSB filed a motion challenging TSSB’s cease-and-desist order.
- April 30: TSSB pushed back, asking to deny or set a hearing for the motion.
- May 3–16: Apertum requested prehearing conferences and filed to dismiss the case, claiming TSSB lacks jurisdiction.
- May 20: TSSB sought a delay to extend the hearing, opposed by Apertum.
- May 28: The court rescheduled the hearing for November 3–7, 2025 (or possibly August 11–15), despite Apertum’s objection to sticking with June dates.
- May 29: The court rejected Apertum’s request to revert to June, noting their earlier agreement to a later date.
Key Notes
- Both hearings are in-person, requiring all respondents to attend.
- TSSB plans to question each Apertum respondent for 1–2 hours.
- GSB estimates its claims process, handled by AlixPartners, will wrap up around July 2025, but no official timeline has been confirmed.
Stay tuned for updates as these cases unfold!