US States To Refund Investors Amid $1 Bln Crypto Scheme Settlement

United States authorities have finalized a settlement with Josip Heit, the head of GSB Group over an alleged $1 billion illegal crypto scheme. Five states made the move seeking to recover millions of dollars for investors. United States regulators and their global counterparts ramp up efforts to protect investors in financial markets.

US Authorities Reach Agreement With GSB Group

Regulators in five states; Texas, Alabama, Georgia, Arkansas, and Arizona have announced a settlement with Josip Heit over a failed crypto scheme. The Texas State Securities Board revealed the move in a bid to secure funds for thousands of affected investors in the US and Canada. The scheme sold investors tokenized ownership in a skyscraper alongside other products like metaverse investments and a crypto asset that could be exchanged for gold.

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