Herman Pretorius’s R1.8bn scheme is bankrupt – lawyer

31 Jul

Author:  Julius Cobbett

Publications: MoneyWeb

Date Published: 31 July 2012

RVAF’s only remaining trustee has no knowledge of where the funds were invested.

JOHANNESBURG – Investors placed around R1.8bn in one of Herman Pretorius’s investment schemes. This figure emerged in court papers asking for the scheme’s sequestration.

Pretorius allegedly shot his former business partner Julian Williams on Thursday last week before turning the gun on himself.

Pretorius’s scheme was called the Relative Value Arbitrage Fund (RVAF). A portion of the funds raised by the scheme appear to have been invested in a trust.

On Monday an investor in the RVAF, lawyer, Morné Strydom of the firm Mostert & Bosman, brought an application to sequestrate the fund. Strydom has a personal investment in the RVAF to the value of R233 000.

The RVAF had two trustees: Herman Pretorius and Eduard Brand. After Pretorius’s death, Brand is

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