Secretary of State Michael Watson has issued a cease and desist order against GS Partners Global claiming that the company is offering and selling fraudulent investments. The action accuses GS Partners Global, Chairman of the Board Josip Heit, and the company’s Mississippi representative Richard L. Shoto of offering and selling.
The FSCA has warned potential investors to be wary of GS Partners, which has been offering unrealistic returns, is not licensed in South Africa and has attracted scrutiny from regulators in 10 other jurisdictions in Canada and the US.