GSB Group and Josip Heit Accused of Breaching Settlement Terms
GSB Group and its founder, Josip Heit, are facing allegations of violating the North American GSPartners fraud settlement. The issue emerged after several DAO1 investors from jurisdictions covered by the settlement attended an Apertum Foundation event held in Hong Kong between June 12 and June 14, 2026.
Background: What Was GSPartners?
GSPartners operated as an investment program under the GSB Group umbrella. The company attracted investors worldwide before becoming the subject of numerous regulatory investigations and warnings.
Following more than a dozen fraud-related warnings issued by financial regulators across multiple countries, GSPartners collapsed in late 2023. Regulators alleged that the company offered unregistered investment products and violated securities laws.
GSB Group’s Global Operations
GSB Group is managed by Josip Heit from Dubai and is connected to several affiliated companies registered in different jurisdictions. The group has been involved in various blockchain, investment, and digital asset ventures over the years.
The 2024 North American Settlement
In September 2024, GSB Group and Josip Heit reached a settlement with securities regulators from 45 U.S. states and Canadian provinces. The agreement resolved allegations related to the promotion and sale of investment products through GSPartners.
Under the settlement terms, existing regulatory warnings and enforcement actions were required to remain in effect until eligible investors received their refunds. The agreement also outlined strict compliance obligations for GSB Group and its related entities.
Consent Order and Refund Requirements
The settlement established that, once the investor refund process is completed, a single consent order would replace the existing state and provincial regulatory actions.
The terms of the agreement were detailed in an official Term Sheet signed by Josip Heit in his capacity as Chairman of GSB Group on September 5, 2024. The document outlined the responsibilities the company must fulfill before the settlement can be considered fully satisfied.
