Josip Heit fraud, a controversial figure tied to the Apertum Foundation and GSB Group, has been ordered to attend an in-person fraud hearing in Texas from June 2–4, 2025. The case, led by the Texas State Securities Board (TSSB), accuses Heit and associates of running a fraudulent cryptocurrency scheme involving the Apertum token (APTM). If you’re considering investing in Apertum, DAO1, or similar platforms, this review will break down the allegations, the hearing details, and how to protect yourself from potential scams. Let’s dive into the facts to help you make informed decisions.
Apertum Fraud Case About?
Currently serving a 20-year sentence since September 2023, Greenwood argued two points in his appeal:
- The court wrongly calculated his sentence by including both domestic and foreign losses from the OneCoin scam.
- His 240-month sentence was unreasonably harsh.
The Appeals Court dismissed these claims, stating that foreign wire transactions were part of the same fraudulent scheme as domestic ones, justifying their inclusion in sentencing calculations. On the sentence’s severity, the court found no abuse of discretion, noting the scheme’s massive scale, its targeting of vulnerable victims, and Greenwood’s significant profits. The court also acknowledged mitigating factors, such as harsh post-arrest conditions in 2018, but ruled the sentence fair and not “shockingly high.”
Why Is Josip Heit Ordered to Attend In Person?
On May 8, 2025, the Texas State Office of Administrative Hearings (SOAH) ordered Heit, Zahlmann, Hughes, Loos, and the Apertum Foundation to attend the June 2–4, 2025, hearing in person. Here’s why this matters:
- Initial Request Denied: Heit’s legal team, Quinn Emanuel Urquhart & Sullivan, filed a motion on May 12, arguing that in-person attendance was an “undue burden” since the respondents are foreign entities or residents (e.g., Heit and Loos in the UAE, Hughes in South Africa). The SOAH denied this on May 13, citing the respondents’ earlier request for an in-person hearing.
- Jurisdictional Dispute: Heit’s attorneys claim the TSSB lacks jurisdiction, as APTM isn’t sold directly in Texas, and the DAO1 platform uses geo-blocking to restrict U.S. users. However, SimilarWeb data shows 46% of Apertum’s website traffic and 27% of DAO1’s traffic come from the U.S., raising questions about these claims.
- Heit’s Past: Heit, previously convicted of financial fraud in Luxembourg under the name Josip Curcic in the 2000s, may face visa challenges entering the U.S. Ongoing federal investigations into his activities add further complexity.
Why Should You Care?
The Apertum case highlights the risks of investing in crypto and MLM schemes. Here’s what’s at stake:
- Financial Risk: The TSSB estimates up to 1,600 Texans may have lost money in Heit’s prior schemes, with APTM posing similar risks.
- Pyramid Scheme Concerns: Like Side Hustle Income, Apertum’s reliance on recruitment and high commissions mirrors illegal pyramid schemes, where most participants lose money when recruitment slows.
- Regulatory Action: The TSSB’s aggressive stance, including an Emergency Cease and Desist Order in March 2025, signals serious concerns about investor harm.
What’s Next for the Apertum Case?
The June 2–4, 2025, hearing will determine whether Heit and his associates violated securities laws. Public attendance may be possible via Zoom, but confirm details with SOAH at soah.texas.gov. Note that Heit’s legal team argues APTM is a utility token, not a security, and claims the TSSB’s order is “unlawful.” However, the TSSB’s evidence of widespread U.S. engagement and past fraud suggests a tough battle ahead.
Final Thoughts
Josip Heit Fraud’s involvement in Apertum, combined with his history of fraud and the TSSB’s allegations, paints a risky picture for investors. The upcoming Texas hearing could expose more about Heit’s operations and impact thousands of investors. If you’re considering crypto or MLM opportunities, prioritize transparency and regulatory compliance to avoid financial loss.
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