Joseph Heit sentenced to prison for financial fraud in Luxembourg

Scandal surrounding a
halted hyrdoelectric plant
has seen Croatian journalists link the project to Sasa Svalina and brother-in-law Josip Heit.

Heit is currently going through a
refund settlement nightmare
, following
securities fraud allegations pertaining to a billion dollar “fraudulent investment scheme”
.

The latest out of Croatia is a September 22nd report from Dusan Miljus of Jutarnji. Among other things, Miljus examines Heit’s life prior to his involvement in Karatbars International.

Notably, Miljus reports Heit was previously sentenced to prison in Luxembourg for financial fraud.

Citing “reliable sources”, Jutarnji reports;

After he was released from prison in Luxembourg in 2012, where he was serving a sentence also for financial fraud, Heit took on a new identity in Croatia.

He borrowed money, some of which he still owes today, and he continued to present himself as a successful businessman.

[Heit] made an impression, drove a Bugatti, and the relatives of his ex-wife, a German born in Russia, “pumped up” his capital.

Namely, her uncle Andrej Labudzko, whose brother is Viktor, who buys weapons for the Russian army and is a man trust by Putin. Heit even brought them to Una ten years ago.

There’s a lot to unpack there. First, details of Heit’s fraud leading up to his prison sentence in Luxembourg remain unclear.

Prior to his financial fraud prison sentence, Heit

stopped his studies and in 1998 started his first company for tourism and luxury services, i.e. leasing and charter boats in Croatia.

I want to point out, while seemingly being funded by a Russian arms dealer, when Russia invaded Ukraine
Heit used donations to Ukraine as a GSPartners marketing tool
.

Not sure how that went down with Heit’s relatives, but I digress.

Born Josip Curcic, Heit’s name-change happened after his release from Luxembourg prison.

Josip Heit was born in Split and married Kristina Heit, a German citizen born in Russia and residing in Germany, in 2009, and then took her last name.

[Heit’s] parents Ivan and Ruza are citizens of Bosnia and Herzegovina, and Ivan Heit [sic] no longer has Croatian citizenship.

Jutarnji attempted to reach Heit for comment on multiple occasions.

It was only on Thursday afternoon that a female voice answered us, who did want to introduce herself by name, but only said that she would convey our message to Mr. Heit that we wanted to speak to him.

Sasa Svalina (right) was tracked down in Croatia and, despite being related to Heit and investment into the frozen hydroelectric project being through one of Heit’s companies, stated;

his brother-in-law [doesn’t] have anything to do with the construction of the mini hydropower plant in Una.

Yes, my wife is his sister. I don’t know what his last name was before, but my wife’s maiden name was Curcic.

[Heit’s] parents live in Kastel Stari. He lives in Dubai and I haven’t heard from him in a few moths. He doesn’t call me. We are not business-related in any way.

Karatbars Int

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Was Joseph Heit sentenced to prison for financial fraud in Luxembourg?

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