Josip Heit – Ponzi Schemes and Scammer Exposed (2023 Update)
Josip Heit is a serial scammer involved in multiple fraudulent schemes. The following review will shed more light on his illegal operations:
The purpose of GSPartners’ US event was to show the world that the company and its owner, Josip Heit, were beyond the law.
They were exempt from securities regulation, wire fraud, and money laundering laws.
Instead of traveling to the United States and making a grand entry, Heit opted to remain in the protection of Dubai.
The media platform is not sure if attendees were specifically told not to record Heit’s presentation. The only footage available was an indirect shot of Heit taken from someone’s phone.
To be clear, GSPartners is still committing securities fraud even if Heit attended the event. The business model of GSPartners makes it a Ponzi scheme, regardless of whether Heit is picked up in the US.
Still, the fact that Heit was unwilling to bet GSPartners’ validity on a visit to the United States is telling.
It’s not what GSPartners investors were promised.
Josip Heit Didn’t Attend GSPartners’ Event
This memorable event will include a brief business overview by one of our GSPartners leaders, a technology session by our CTO, Mr. Alexandru Cocindau, an address by Advisory Board Member Dirc Zahlmann, an address by our Chairman of the Board, Mr. Josip Heit, and words of inspiration by our Global Ambassadors, followed by rank recognition.
Attendees might have hesitated if they’d known they’d be spending $60 to watch Heit and Cocindau on Zoom.
GSPartners offers free corporate webinars at least once a month.
Michael Dalcoe, who was oddly absent from GSPartners’ event promotion, was left to host the event.
The introduction of Nathaniel “Nate” Hines, who Dalcoe verified is his GSPartners upline (the person who recruited him), was an interesting nugget.
This is essential because Dalcoe is the face of GSPartners in the United States. So much so that he refers to himself on social media as GSPartners’ CEO:
It turns out that someone is generating more money than Dalcoe through the recruiting of US GSPartner investors.
Nate Hines refers to himself as the “Admiral” of GSPartners.
Hines, like Josip Heit, Michael Dalcoe, and pretty much everyone else who started GSPartners, is a Karatbars International importer.
The absence of Josip Heit in Atlanta was not GSPartners’ only public relations blunder.
On March 23rd, the event was announced. G999 returned to the fixed-range “up and down” manipulation witnessed in January when GSPartners filed the ol’ G999 trade manipulation bot on March 26th.
This saw G999 return to the fixed-range “up and down” manipulation observed in January.
The plan appears to have been to increase G999’s value in order to have something to brag about in Atlanta.
Pre-manipulation G999 was stable at roughly $0.0039, as shown in the first chart above. There were a few short pumps, but by April 23rd, G999’s value had not altered significantly.
Josip Heit has established relations with Dubai while GSPartners investor losses rise. Previously known to move between Dubai, the United Kingdom, and Germany, Heit is spending an increasing amount of time in the Emirate.
South African promoter Andrew Eaton enthused earlier this month about a new GSPartners office in Dubai.
Heit also spent Easter in Dubai, which, paired with the office, means he’s relocated permanently.
While Dubai may shield you from law enforcement and banking authorities, it is not cheap to live there.
The number of visitors to GSPartners’ website continues to decline:
G999 is being propped up by wash trading, the Something Dubai real-estate token project appears to have been quietly abandoned, and Lydian World is uninterested… So, what’s the next cash grab by GSPartners?
Lydian Dwarfs NFTs. A follow-up to the Lydian Lion NFTs, which were likewise unsuccessful.
But, of course, no money from GSPartners has ever been used in any of Heit’s scams. The money is in getting individuals to participate in this folly.
At the time of publication, Alexa ranked the United States as the sole significant source of the traffic to GSPartners’ website (53%).
The SEC has not registered GSPartners, Josip Heit, Nathaniel Hines, Michael Dalcoe, or anybody else involved with the company.
Some of the comments by the public on Josip Heit were like this:
GSPartners and Josip Heit threaten US-based YouTuber
GSPartners and its owner, Josip Heit, have hired a US law firm to intimidate a YouTuber residing in the United States.
The Grit, Grind, Gold YouTube channel is run by Chris Saunders.
There are several videos on Grit, Grind, and Gold that are critical of GSPartners and its predecessor Karatbars International:
Heit and GSPartners, dba Gold Standard Banking Corporation, have hired the US law firm Zuber Lawler to quiet Saunders.
Zuber Lawler issued a cease and desist letter to Saunders in response to allegations he made about Gold Standard Banking Corporation, Josip Heit, Michael Dalcoe, and Tony De Gouveia.
For the sake of clarity, and because he’s most certainly paying Zuber Lawler’s expenses, I’m naming Heit as the initiator of the notice.
Heit takes issue with numerous of Saunders’ comments in Grit, Grind, and Gold.
These comments are as:
- Karatbars International and GSPartners are the same company.
- GSPartners is a Ponzi scam.
- GSPartners and Josip Heit are involved in “criminal activities of moral turpitude.”
Zuber Lawler believes Saunders’ assertions about the aforementioned topics are defamatory.
To explain away Heit’s executive involvement in Karatbars, specifically as the architect behind the company’s failed transition to cryptocurrency fraud, Zuber Lawler asserts:
GSB has no affiliations with Karatbars; it is neither a parent, subsidiary, or affiliate of Karatbars; and it exists entirely as a separate and independent entity.
All of those statements are correct. They also ignore the fact that Heit founded GSPartners as his own Karatbars subsidiary.
GSPartners’ G999 Ponzi token scheme was closely modeled after Karatbars’ International’s unsuccessful GSB Ponzi token scheme.
Despite the fact that Heit, as a Karatbars CEO, was likely one of the key beneficiaries of Karatbars’ failed crypto Ponzi scheme and used those ill-gotten funds to create GSPartners, Zuber Lawler claims that Gold Standard Banking Corporation is a “victim.
Zuber Lawler argues that Gold Standard Banking Corporation and Heit are merely investors.
GSB and Mr. Heit did not profit from their association with Karatbars; in fact, their investment cost them millions of dollars.
Moving on, Zuber Lawler claims that GSPartners is not a Ponzi scheme because law enforcement has not yet apprehended Heit.
GSB and its agents and principals have never been charged or convicted of a Ponzi scheme-related crime.
This is due to the fact that GSB is not a Ponzi scam.
This is an adaptation of the “if it was illegal, it would have been shut down” justification.
The reasoning is incorrect because it assumes that criminal action cannot exist until someone is charged.
This presents a “chicken or egg” situation in which no one can be charged if no illegal behavior occurred.
Criminal action occurred prior to anyone being held accountable, as evidenced by every criminal case ever filed. Regardless of whether or not someone is ever held accountable for criminal activity.
To illustrate, consider the following GSPartners investment scheme:
It is worth noting that, since our initial analysis, G999 has remained dormant, and GSPartners has gone on to develop other token investment programs.
According to the Howey Test, an investment contract exists if there is an agreement to invest.
Investing money in a joint venture with a realistic prospect of profit from the labor of others.
Consumers are donating money to GSPartners (a shared venture) with the only expectation of “profits derived from the efforts of others.”
When someone cashes out their G999 tokens, they are compensated with funds that were previously invested. It’s a closed-loop money flow with no outside revenue source.
More importantly, because Zuber Lawler and Saunders are based in the United States, the presence of an investment contract establishes a securities offering.
GSPartners, Josip Heit, or any of the shell businesses affiliated with GSPartners are not registered with the SEC.
Michael Dalcoe, who refers to himself as GSPartners’ CEO, is widely regarded as one of the company’s most ardent supporters.
In addition to not being registered with the SEC, he is a US citizen and resident.
Zuber Lawler hides behind an unpublished legal opinion rather than address any of these facts, which by definition cannot be defamatory.
GSB hired an independent law firm to conduct a thorough internal inquiry into these claims.
This inquiry looked at the organization’s internal workings to see if there was any evidence of money laundering, transaction laundering, BRAM/GBPP violations, license and SEC concerns, and unethical contractual and sales activities.
The inquiry found no wrongdoing and will be utilized to prove the untruth of your defamatory claims. TelexFree, Zeek Rewards, OneCoin... It is usual for MLM Ponzi schemes to conceal themselves behind bought legal advice.
To date, none have stood up in court. They haven’t stopped the arrests or criminal trials of executives from the aforementioned companies. Above, I presented evidence of GSPartners’ securities fraud. Any contrary legal opinion intentionally overlooks this evidence.
Because I know someone at Zuber Lawler will read this, please email me this legal opinion endorsing GSPartners’ deception, and I’ll gladly deconstruct it. The third point is easy to address. It is illegal to run a Ponzi scheme. GSPartners is also a pyramid scheme due to the lack of a retail offering.
Anyone operating a Ponzi or pyramid scam is, by definition, “engaged in criminal activities of moral turpitude.” Zuber Lawler concludes by calling Saunders’ words defamatory.
The law company has threatened to sue Saunders if he does not remove the Grit, Grind, Gold videos and agree to stop further criticism.
If the aforementioned written guarantees are not delivered in a timely manner, a complaint will be brought against you in a Virginia court seeking an injunction, damages (including punitive damages), and another appropriate remedy.
In response to the cease and desist letter, Saunders released a video titled “Grit Grind Gold’s Response to Josip Heit’s Attorney” on November 19th.
In the video, Saunders states the following:
It remains to be seen whether GSPartners, Josip Heit, and his associates follow through on their threat of legal action.
At the time of writing, Alexa estimates show that traffic to GSPartners’ website is continuing to decline: the United States is the largest source of visitors (29%), followed by South Africa (28%), and India (12%).
It is unknown whether US authorities are looking investigating GSPartners, Josip Heit, and/or Michael Dalcoe.
Some of the glimpses of the thoughts of people on this situation:
GSPartners abandon YouTube harassment lawsuit in US
GSPartners has dropped its harassment claim against Chris Saunders.
Saunders owns and runs the YouTube channel Grit Grind Gold, where he reports on and criticizes the GSPartners Ponzi scheme.
Owner Josip Heit, as well as promoters Michael Dalcoe and Antonio (Tony) Euclides Menesis De Gouveia, took notice and launched a harassment action against Saunders in late 2021.
Sunders’ releasing videos on the Ponzi scam, according to Heit and the GSPartners Plaintiffs, constituted slander.
Heit was also offended when Saunders mentioned his involvement in Karatbars International’s failing KBC Ponzi scheme.
GSB Gold Standard Corporation AG, Josip Heit, Michael Dalcoe, and Tony De Gouveia submitted a stipulation of dismissal on July 29th.
Defendant Christopher Saunders executed a declaration in connection with the aforementioned matter on July 29, 2022.
Plaintiffs GSB Gold Standard Corporation AG, Josip Heit, Antonio Euclides Menesis De Gouveia, and Michael Dalcoe, by counsel and with the signature and agreement of counsel for Defendant Christopher Saunders, hereby stipulate to the dismissal without prejudice of all claims in this matter, pursuant to the Saunders’ Declaration.
The aforementioned stipulation from Saunders demonstrates he got
Mr. Ovidu Toma received $5,000 in Bitcoin in connection with making the Statements and Allegations against the Plaintiffs. Mr. Ovidu Toma has been providing me with documents and materials (that) substantiate Mr. Harald Seiz’s role in Karatbars’ alleged crime since January 2020.
“Ovidu Toma” refers to Ovidiu Toma, Karatbars International’s former Chief Technology Officer.
Toma is the CEO of CryptoData today. CryptoData is a Romanian company that supplies crypto bro hardware.
Returning to Saunder’s declaration:
“I was aware, through first-hand knowledge of facts and documents, that any alleged wrongdoing committed by Karatbars in connection with its Miami crypto bank and the issuance of KBC/KBC tokens was committed by Karatbars’ CEO, Mr. Harald Seiz, and that said wrongdoing occurred prior to any affiliation between Karatbars and GSB/Mr. Heit.”
This is an odd concession to make. Heit was the face of Karatbars’ initial attempt into cryptocurrency securities fraud. Seiz is identified as a “big investor and Board Member” of Karatbars International in an April 2019 interview.
Karatbars was promoting a “blockchain phone” in Dubai at the time.
When challenged about his remarks during the occasion, he said, and I quote,
“You mentioned the KBC ugh coin. You mentioned that it could be 1 kilogram of gold. Is this even possible?”
“Yes, of course,, it’s possible. Nobody thinks and many people recognize in uh, right time and there with us and they can join us.
We have last week or two weeks, we have just a market capitalization of about 300 million dollars. And now we have almost one billion.
And still is it not realized mainnet. And when the main net will be realized, and this will be very soon, in some of the months, I tell you; we will have a market capitalization of more than 200 billion.”
Following the July 4th, 2019 hype event, the KBC Ponzi coin dropped 62% after months of Heit and Seiz pushing up Karatbars’ KBC.
Josip Heit, not Harald Seiz, was dispatched to confront irate investors and explain the collapse.
KBC continued to dump over the next few months before being abandoned. By the end of 2019, Heit had cashed out, departed Karatbars, and started his own Ponzi scheme, GSPartners.
GSPartners’ Ponzi coins have performed similarly to KBC. G999 is being supported by wash trade, which I believe is gradually depleting GSPartners’ other Ponzi currency, LYS.
G999 is now being transacted at about $0.002413. LYS is still draining at $66.78.
GEUR was launched earlier this month in response to the persistent failure of G999 and LYS to take off.
GEUR is tied to the euro, as represented by GSPartners and Heit. GEUR is thought to have been developed because GSPartners investors did not want to be left owning G999 and LYS any longer.
GEUR does not exist outside of GSPartners at the time of writing. GEUR is being used by GSPartners to support its latest 300% ROI Ponzi reboot, metaverse certificates.
A settlement was negotiated between GSPartners and Saunders, but it was not made public.
Saunders has not retracted any of his other GSPartners-related assertions, except for wrongly claiming Heit was not involved in the Karatbars KBC scam.
On August 2nd, the court authorized the GSPartners Plaintiff’s Stipulation of Dismissal. This concludes GSPartner’s harassment action against Saunders.
4th September 2022 – Update All of Grit Grind Gold’s social media profiles have been turned private, which looks to be part of a settlement.
Furthermore, all videos on the Grit Grind Gold YouTube channel have been tagged as private.
An inside look at Josip Heit’s German GSPartners shell firm.
He established GSB Gold Standard Banking Corporation AG in December 2017. A recent filing with the Dusseldorf District Court revealed information about the shell businesses that support GSPartners.
Heit renamed GSB Gold Standard Banking Corporation AG to GSB Gold Standard Corporation AG in an attempt to conceal the GSPartners Ponzi scheme. According to the document, Heit transferred GSB Gold Standard Corporation AG from Hamburg to Dusseldorf on April 26th, using the corporate address provided by Regus, which provides virtual office addresses. The GSB Gold Standard Corporation has a share capital of EUR 8.9 million and is active in chemical product production, import, export, and distribution. Surprisingly, there is no mention of MLM operations or GSPartners’ G999 Ponzi scheme.
J One’s developer denies knowledge of GSPartners and Heit.
Following the failure of G999, GSPartners has converted itself into a factory for generating low-value cryptocurrencies. The first coin to be issued is named JONE, and it is said to be backed by floor space in Dubai’s J One tower. However, the tower’s developers, RKM Durar Properties, are unaware of this connection. A MyBroadband forum user uploaded images of chats in which people were trying to figure out why a property developer would identify themselves with a failing Ponzi scam.
One of the emails stated that RKM Durar Properties and Josip Heit, the founder of G999, had a link and that G999 could be utilized to secure a certificate of ownership in J One.
When a group of investors from an undisclosed location questioned any official collaboration between Durar Group and Gold Standard Bank (GSB), a representative of RKM Durar Properties responded that they were not aware of Josip Heit, the CEO of GSB. The company was looking into J One as an investment possibility and wanted to know if the houses were for sale.
A spokesperson from RKM Durar Properties reacted by indicating that they have taken efforts to remove an unauthorized advertising site. Regardless of their cooperation, the representative stated that the JONE coin marketed by GSPartners was still a Ponzi scam. Surprisingly, Heit seems to have chosen a house in Dubai at random for marketing purposes.
GSPartners with Skyground Group conceal BDSwiss deceptions.
On January 25th, BDSwiss, a brokerage firm, acknowledged that it had no partnership with GSPartners. BehindMLM reported on GSPartners’ fraud on January 30th, and how the owner, Josip Heit, had previously been found lying about business ties. In reaction to the revelation by BDSwiss, GSPartners is now attempting to conceal its tracks by declaring a new collaboration with Skyground Group.
GSPartners alleged that BDSwiss was its trading partner when it launched its “metaverse certificates” Ponzi scam in May 2022. As a result, GSPartners investors were promised a 300% return of up to $100,000 over 18 months through BDSwiss’ trading activity.
4.15% weekly returns on up to $200,000 in tether were still being offered until BDSwiss said that it had no affiliation with GSPartners.
The metaverse certificate investing tactics remain unchanged, but Skyground Group is reportedly now the source of ROI revenue.
The domain name “skyground.group” for the Skyground Group website was purchased on May 3rd, 2022. Skyground Group was later introduced in September 2022.
Skyground Group is owned by the Oelfkes. Alexander and Konstantin.
The Oelfke brothers, who formerly worked at BDSwiss, will leave in October and August of 2021, respectively.
BDSwiss has financial regulatory licenses in a number of countries. In its metaverse certificate promotion, GSPartners promoted its fictional affiliation with the brokerage by incorporating the following:
In contrast to BDSwiss and its financial licenses, Skyground Group only exists as “Skyground Services Ltd.”, a shell company founded in Cyprus.
Skyground Group is headquartered in the Oelfke brothers’ native Germany. This is in reference to Josip Heit, who is thought to be a Croatian citizen who splits his time between Dubai and Germany.
Alexander Oelfke presented to investors GSPartners’ obfuscation of its BDSwiss partnership deception as a “new” partnership announcement.
Alexander Oelfke, CEO of SKYGROUND Group, has made an exclusive announcement of an intriguing new Partnership in the Metaverse Sector.
Following a successful six-month trial period in which various firms participated, SKYGROUND has been named an official Lydian. world Metaverse technology partner.
SkyGround, as a technology provider, delivers cutting-edge technology modules to a number of major online brokers throughout the world. This is accomplished through the use of trading platforms such as MT4 and MT5, which are also used by renowned traditional brokers such as IG Group, Swissquote, and BDSwiss.
The press release’s headline appears to be incorrect, considering Oelfke’s words are not referenced in them. Furthermore, the final paragraph of the referenced text is deceptive because it implies that Skyground Group employs the same trading technology as BDSwiss.
The terms “MT4” and “MT5” refer to MetaTrader 4 and MetaTrader 5, which were developed by MetaQuotes and are available to brokers as free or licensed software. However, MetaTrader is only a trading platform that requires third-party input to execute actual trading, either manually or by automation. Skyground Group’s assertion that it has access to MetaTrader on the same level as BDSwiss is a sham because anyone can access MetaTrader. It’s the same as trying to be a competition simply because both companies use Microsoft Windows in their workplaces.
The Skyground Group press release was disseminated by the Berliner Tageszeitung to various paid press release spam sites. This press release was submitted by the Berliner Tageszeitung, which was purchased by Josip Heit through GSMedia in 2021, along with two other defunct German online news portals. The Berliner Tageszeitung has been posting content from various sources, including GSPartners news releases on occasion. According to SimilarWeb, the website receives relatively little traffic.
The usage of Berliner Tageszeitung in the Skyground Group press release is an attempt to disguise the fact that GSPartners and Heit are advertising themselves. Despite GSPartners’ hilarious BDSwiss cover-ups, the securities fraud question remains unsolved. It is evident that GSPartners’ offer of a passive weekly return to investors, now through Skyground Group, is a securities offering.
Skyground Group, the Oelfke brothers, GSPartners, and Josip Heit are not authorized to offer securities in any jurisdiction, which indicates that both GSPartners and Skyground Group may be involved in securities fraud. According to SimilarWeb’s analysis of website traffic, the majority of traffic to GSPartners’ website comes from the US, Portugal, and Canada. Despite being regulated by the SEC, GSPartners and Heit have not yet faced any consequences for defrauding US residents. Similarly, German authorities have not taken action against Heit since the Karatbars International crisis in 2019.
How Josip Heit defrauded the London Stock Exchange and established GS Chain
GS Chain is one of the components of GSPartners’ new Meta Certificates Ponzi puzzle.
GSPartners has apparently been assigning LSC shares based on affiliate investment amounts for some time. They are currently given out as a recruiting incentive.
The fact that GS Chain is a UK company is unremarkable in and of itself. Fraud is routinely approved by Companies House.
GS Chain, on the other hand, is also listed on the London Stock Exchange.
The approach Josip Heit employed to get the LSE to list his shell company is remarkable, even though it is far from proof of authenticity.
According to Nitsa Nakos, a Canadian GSPartners promotion, GSPartners affiliates used to receive LSC shares based on how much money they invested.
Affiliates are now paid with GSC shares based on investor acquisition.
To evade discovery by regulatory authorities, GS Chain was first incorporated as International Tech & Fintech PLC. Josip Heit contributed the first £1,049,900 to get things started. Nonetheless, the shares he had hired covered this formally.
International Tech & Fintech PLC was formed using a virtual office address in the United Kingdom.
Leon Filipovic, the sole Director of the company, was identified using the same virtual address.
Filipovic is not a random Heit produced out of thin air.
From 2016 until 2018, he was the CFO and head of compliance at IFLS Corporate Services Ltd. Mr. Filipovic was in charge of blockchain technology training and the development of trading software for the Pomeroy Group from 2018 to 2019. From 2019 until 2021, he led software development at BL Enceladus Ltd.
IFLS Corporate Services and Pomeroy Group specialize in assisting applicants to obtain financial licenses in areas where regulation is weak to nonexistent.
IFLS Corporate Services Ltd. is the global market leader in securing financial licenses. Clients of IFLS typically conduct asset management, FX, brokerage, payments, cryptocurrency ICO launches, and hedge funds.
More than 700 successfully established financial firms in countries such as the Seychelles, Vanuatu, Georgia, the Czech Republic, Belize, and New Zealand over the preceding 15 years should speak volumes about our professionalism in comparison to other suppliers in the field.
PAMEROY MANAGEMENT LTD. is the world’s leading acquirer of banking licenses, with operations in the Comoros, Vanuatu, Marshall Islands, Republic of Georgia, Cook Islands, Seychelles, Belize, St. Vincent and the Grenadines, Bahamas, Singapore, Hong Kong, Malaysia, and Gibraltar.
The words “IFLS Corporate Services Ltd: Register 99123” may be seen on Pomeroy Group’s website, implying a connection between the two companies.
According to Pameroy, the company “focuses on the European Market, particularly the German-speaking countries.” Despite his Croatian origins, Josip Heit spent several years in Germany before relocating to Dubai last year.
Pameroy’s establishment of bogus corporations in the Comoros is particularly significant. BehindMLM discovered Gold Standard Bank’s bogus Mwali banking license in the middle of 2021.
Mwali is a Comoros Union member. The GSPartners Ponzi scheme includes the German shell company GSB Gold Standard Bank.
Pameroy also develops bogus companies in Kazakhstan “for businesspeople who wish to offer Forex, Crypto, and Payment Processing.”
A press release from October 2020 titled “G999: Josip Heit and the GSB Gold Standard in the Cosmos of the Blockchain Financial Industry” brings everything together.
GSB Gold Standard Banking Corporation AG (GSB), one of Germany’s leading software, IT, and blockchain enterprises, has devised a groundbreaking method to make cryptocurrency transactions much simpler and, most crucially, much faster.
GSB Gold Standard Banking Corporation AG is made up of three companies: GSB Gold Standard Pay KB (Sweden), GSB Gold Standard Bank Ltd. (Comoros Union), and GSB Gold Standard Pay Ltd. (Kazakhstan).
Filipovic’s most recent employer was BL Enceladus Ltd. They appear to have renamed themselves “BL Group” and “BL Corporate Services” about the middle of 2021.
On the BL Group’s Financial Licenses website, Kazakhstan reappears once more:
Perhaps you’ve noticed a pattern in Filipovic’s work history. It should be evident why Heit chose Filipovic to front the International Tech & Fintech PLC shell incorporation.
Filipovic is a Croatian national. Heit is also from Croatia, so there could be a personal link there as well.
On April 3rd, 2021, International Tech & Fintech PLC was formed. International Tech & Fintech PLC obtained a company registration number and a Legal Entity Identifier swiftly.
Heit (presumably indirectly) recruited the UK firm First Sentinel to aid him in keeping his name off the records.
As per their website, First Sentinel
That latter portion was consistent with Josip Heit’s ambitions for International Tech & Fintech PLC.
The first item of business was to rename International Tech & Fintech PLC to GS Chain PLC. This was accomplished through a resolution passed on July 9th.
On July 14th, First Sentinel Advisory Limited was appointed as PLC’s Secretary.
On July 28th, a GS Chain PLC trading certificate was obtained.
Leon Filipovic and his UK shell business GS&IB Fintech LTD were terminated as Directors and Secretaries on September 30th and 29th, respectively, after completing their work in setting up Heit’s shell company.
That is not to imply Filipovic cashed out and left. He remained as Chairman of GS Chain PLC and, at least on paper, owns 28.3% of GS Chain PLC shares.
Sébastien Dominique André Guerin, GS Chain’s COO, owns another 28.3%. Guerin is a Director/Partner in Josip Heit’s GSB Gold Standard Corporation AG German shell company.
Here I’ll briefly mention GS Chain’s appointed CEO, US citizen and resident Alan Austin.
Not surprisingly, Austin is a GSPartners investor:
Austin is an OG Harald Seiz era Ponzi promoter, dating back to Karatbars:
Nath (right) owns 2.25% of the stock of GS Chain. Nath’s son and daughter both own 0.25% of the company.
Despite the fact that GSPartners affiliates are reportedly issued GS Chain shares in exchange for their investments, none of them are recorded in GS Chain’s financial reports.
Haysmacintyre LLP, a UK accounting company, signed off on all of this garbage.
Shell business filings for GS Chain PLC ceased on December 19th, 2021. We turn to the prospectus of GS Chain for more details.
This is the shell corporation cover for GS Chain.
It is unthinkable that no one in the United States or South Africa has GS Chain stock. There will be no direct written evidence for the LSE to uncover, therefore we’ll rely on assertions made by GS Partners promoter Nitsa Nakos a few weeks ago.
And if you’re wondering why Heit is going to such lengths to conceal the distribution of GS Chain shares to US residents, who, once again, make up the vast majority of GSPartners affiliate investors, look no further than GS Chain’s prospectus.
The UK regulator in charge of examining GS Chain’s listing application absolves itself of any culpability, as is customary in cases of securities fraud.
The FCA has authority…
However, for the most part, they are hopeless. Heit picked the United Kingdom to issue bogus shares from for a reason.
As things stand, every person and company on this list is engaged in the scam being committed by GSPartners, Lydian World, and GS Chain:
It is up to an investigative authority, whether in the UK or the US, to assess how complicit someone is. Heit is the CEO of GSPartners and spends the majority of his time in Dubai.
Dubai is the world’s MLM crime capital. There’s little prospect of officials doing anything.
Review of Josip Heit’s G999 Karatbars by GSPartners
GSPartners is a cryptocurrency company that does not give any information about its leaders on its website. However, based on earlier reports on Karatbars International, it has been reported that Josip Heit founded the corporation.
Josip Heit rose to prominence with the failure of Karatbars’ KaratGold Coin hype in mid-2019. Prior to the July 4th event, Karatbars CEO Harald Seiz marketed a 100 KBC to 1 gram of gold exchange, which did not take place. As a result, KGC’s public value fell 62% following the debut event. In reaction to the marketing fiasco, Josip Heit, who was recognized as Chairman of Karatbars International’s Board, appeared in pre-recorded films to address irate investors and justify the Ponzi coin’s demise.
Seiz and Heit were investors in Karatbars, a company that faced regulatory warnings from Namibia, Germany, South Africa, and New Zealand as a result of the KGC crisis. They kept the monies they had received from investors and remained inactive in 2019 and 2020. In 2020, they launched “Gold Standard,” which prompted the relaunch of another coin called G999.
However, by September, these preparations had failed. Harald Seiz began advocating Freebay and V999, a G999 variant. All of this may appear ludicrous, but it is normal in the MLM crypto sector. Between the announcement of Gold Standard and the opening of Freebay in mid-2020, Harald Seiz and Josip Heit had a falling out. Following his departure from Karatbars, Heit founded GSPartners, which continued to use the G999 token. Check out the complete analysis of GSPartners’ MLM opportunity.
According to the information provided, GSPartners does not offer any products or services that its affiliates can sell. Affiliates are instead only permitted to promote the GSPartners affiliate membership. The membership grants access to the Blockchain Academy, an online platform that provides video-based blockchain technology courses. These courses are intended to deconstruct blockchain components and provide a solid foundation of knowledge. A course on colonization, crypto assets, and digital currencies is also included in the subscription.
GSPartners Compensation Plan
The GSPartners compensation plan is not available on their website. The paid analysis presented here is based on official compensation information marked “internal use only.” Affiliates of GSPartners invest in G999 tokens with the prospect of profit.
These tokens can be obtained for “69 USDT for 4999 G999 coins” via GSPartner’s GSTrade exchange. Affiliates of GSPartners also receive G999 tokens when they sign up. For example, customers who sign up for the Brand Advantage Basic Package for 275 USDT per year receive 3498 G999 tokens.
Those who join up for the Brand Advantage Premium Package earn more G999 tokens than those who sign up for the Basic Package, albeit the exact pricing of the Premium Package could not be confirmed. It’s worth noting that GSPartners accepts payment in bitcoin or Ethereum despite quoting prices in USDT.
GSPartners Affiliate Ranks
The GSPartners compensation plan has 10 different levels for its affiliates, each with its own set of eligibility requirements. The first rank consists of simply being an affiliate and paying the necessary fees. The Director title requires $15,000 GV each month, whereas the Regional Director requires $40,000 GV. A National Director must earn $80,000 GV every month to be considered.
The Executive rank requires $150,000 GV per month, while the Continental Executive requires $369,000 GV. The International Executive rank necessitates a monthly income of $1,000,000 GV. To become an Ambassador, one must create $3,000,000 GV per month, and to gain a Global Ambassador level, one must generate $9,000,000 GV per month. Finally, a Crown Ambassador must create $27,000,000 GV per month. GV stands for “Group Volume” and represents the fee or investment volume paid by affiliates in one’s downline.
GSPartners follows a unilevel compensation structure for paying referral commissions. This structure places an affiliate at the top of a team, and every affiliate they recruit is placed directly below them on level 1. If any level 1 affiliate recruit new affiliates, they are placed on level 2, and so on for an infinite number of levels.
The referral commissions are capped at nine levels, and residual commissions are paid as a percentage of funds invested in Basic and Premium packages across these levels. The percentage for each level varies, with level 1 receiving the highest commission of 10%, level 2 receiving 4%, level 3 receiving 3%, levels 4 to 6 receiving 2%, level 7 receiving 3%, level 8 receiving 4%, and level 9 receiving 6%. It is not clear whether direct G999 token investment through GSTrade is eligible for referral commission payments.
4% of the total fee investment volume made by GSPartners is invested in the Blockstar Pool.
Affiliates get a portion of the pool according to how much they persuade others to put in:
-persuade people to contribute $3000 in exchange for one Blockstar Pool share.
-persuade others to contribute $9999 in exchange for three shares of Blockstar Pool.
-persuade others to contribute $29,999 in exchange for five shares of Blockstar Pool.
“Rising Blockstars” is the name of the top tier, and it seems that there are time-limited requirements (maybe one month?).
The other two are recurring requirements, therefore Blockstar Pool shares are distributed each time they are satisfied.
At GSPartners, a portion of the company-wide fee investment volume, which amounts to 13%, is allocated to the Infinity Pool. This 13% is then divided into multiple smaller pools based on the rank of the member. For example, Directors get a portion of a 2.5% Infinity Pool, Regional Directors get a portion of a 2.25% Infinity Pool, and so on. It should be noted that higher-ranked members receive a share in their assigned pool as well as all lower-ranked pools.
GSPartners distributes 3% of company-wide fee investment volume to all Brand Advantage Premium Package tier affiliates each month.
Clearly, Josip Heit is a Scammer
There is no information regarding GSPartners’ compensation plan on their website because it is a continuation of the securities scam begun by Josip Heit with Karatbars International. G999 is as useless as all previous Karatbars shitcoins.
Heit manufactures G999 on demand and sells it to unsuspecting investors. G999 was only recently listed on public exchanges, according to CoinMarketCap data. The first data point was captured on February 12th at 0.0068 cents. The price of G999 is presently $0.016 cents. This public value is linked to the recruiting of GSPartners. If recruiting increases, new affiliates purchase G999, driving up the price. When recruitment pauses, the trading value of G999 falls.
Early bagholders cashing out causes a dump over time. Securities fraud manifests itself in a variety of ways, the most obvious being the sale of G999 with the hope of a profit. This is true for all MLM cryptocurrencies.
GSPartners has its Blockchain Academy platform to help hide this. The “education platform” ploy for compliance is becoming a weary cliche. OneCoin’s OneLife platform is maybe the best illustration of this. Securities fraud by GSPartners extends to guaranteed returns given with Brand Advantage investment plans.
In addition, there are “Masternode Vouchers” (returns paid under the pretext of “staking”).
In addition, “Decentralized DeFi Plans” pay annual returns based on a GSPartners membership investment tier:
This is all set up to allow early GSPartner affiliates to cash in their G999 tokens, thereby withdrawing previously invested capital.
Again, GSPartners does not openly disclose any of this on their website because securities fraud is unlawful worldwide.
Alexa lists the top three sources of traffic to GSPartners’ website as the United States (52%), South Africa (15%), and Mexico (12%) at the time of writing.
In none of these jurisdictions, GSPartners is registered to offer securities.
Whether due to regulatory interference or a decline in recruitment, math assures that the majority of GSPartners affiliates will lose money.
Some of the people’s reviews:
Not a reliable firm, I have been investing in several firms for the past 5 years but GSPartners isn’t a reliable firm avoid doing any sort of business with them and avoid setting any sort of dealing with this firm not a reliable one.
If you will go through the reviews and predictions about the company you will find most of them are preparing to withdraw their money from GSPartners due to their degrading value day-by-day so avoid investing with these firms which is going to lose its value, so I will suggest you to invest with some better firm for better returns and also needs to expose their crime to others as well for saving other clients too.
Running a Ponzi scheme and not getting punished shows the level of contact the firm has, legal entities are going to take their back so avoid investing with this firm, not trustable and has scammed thousands of investors, making any investment with them means throwing your money into the water, the chances of having your money back is difficult from these fraudsters.
His company was facing major losses which proved them not to be profitable and most of their investors were fearing for investing with Josip Heit, whereas his company wasn’t proving to be providing any profit thus it is our responsibility to make sure we don’t get stuck with any of these scammers and waste our time and money behind these scammers, avoid investing with this nefarious firm, I am feeling wasted after putting my money with Josip he is running this firms for looting his investors so I will request you all not to invest with this firm. Speaking after my experience I can guarantee that they are never interested in providing you with a refund and always make you feel betrayed.
The article has boldly mentioned the name of Dubai where most of the scammers are taking shelter after committing any crime, and the other countries aren’t able to perform any action against these criminals so make sure you are never invited to any fake scheme which will lead you to the way to scam, which is very much important beware of because nowadays it is getting very difficult to make this out whether which one is nefarious and which one is legitimate, due to several other facts you can’t get their criminal past. Josip has been running a vast network of money laundering making his users suffer numerous losses, which tend to add his name to the list of scammers. If you will look into the form of their scheme you will find they are running a ponzi scheme and cheating on their users, it is our responsibility to be sure before investing, and the best way of getting the history of these scammers is to go through these reviews and search for more detailed articles on these fraudsters which will help us to make the perfect choice for investing.