South African authorities have arrested GSPartners promoter Neil Leon De Waal.
De Waal was recruited into GSPartners by Brendon Earp-Jones, who in flip was recruited by Andrew Eaton.
Eaton was a prime GSPartners promoter who labored straight underneath proprietor Josip Heit.
As per a cited court docket switch doc, De Waal was arrested on an arrest warrant issued by the Benoni Magistrates Court docket or round Might twenty eighth, 2024.
South African authorities have filed a legal case towards De Waal alleging one rely of fraud.
De Waal’s arrest warrant was issued on December fifteenth, 2023, following an software filed on December thirteenth, 2023.
De Waal’s arrest warrant alleges he dedicated a single alleged act of fraud on Might thirtieth, 2023.
On Might twenty fifth, 2023, De Waal attended a GSPartners promotional occasion in Dubai.
De Waal returned to South Africa after the occasion. On Might twenty ninth, 2023, De Waal confirmed he attended a neighborhood GSPartners promotional occasion in Cape City.
Following De Waal’s arrest, a bail listening to was heard on Might thirty first.
South African authorities opposed De Waal’s bail, on the premise he
is a flight threat, a suspect in one other fraud case [and] prone to commit additional schedule 1 offenses.
The listening to was continued to June third. I don’t have a affirmation submitting however a supply informs me De Waal was launched on bail for R15,000 (~$790 USD).
The specifics of De Waal’s legal case are unclear. Ditto particulars of the second case he’s a suspect in.
Additionally unclear is the scope of the legal case, and whether or not extra arrest warrants have been issued and/or arrests made.
On the time of De Waal’s arrest, his GSPartners upline Brendon Earp-Jones has scrubbed his social media profiles:
Earp-Jones’ upline, prime GSPartners promoter Andrew Eaton, has additionally gone underground.
GSPartners was an MLM cryptocurrency Ponzi scheme run by Josip Heit out of Dubai.
Following an avalanche of regulatory fraud warnings from fourteen US states, six Canadian provinces and South Africa’s FSCA, GSPartners collapsed in December 2023.
A number of failed GSPartners reboots ensued, the newest of which is Auratus.
In April 2024 Andrew Eaton falsely claimed US regulators have been on the verge of settling fraud expenses with GSPartners and Heit. The result of a number of US federal investigations into GSPartners stays pending.
Josip Heit stays in hiding in Dubai. It’s unclear whether or not Brendon Earp-Jones and Andrew Eaton have fled South Africa.
Pending additional updates we’ll hold you posted.
Replace seventh June 2024 – A report from Netwerk24 has shed additional gentle on De Waal’s arrest and GSPartners legal case.