Author: SAM SOLE & LIONEL FAULL
Date Published: 03 August 2012
A deadly dispute between former partners follows accusations of the misappropriation of funds. Sam Sole and Lionel Faull report.
Millions invested by the Industrial Development Corporation in a venture linked to arms deal offsets is at risk as the fallout spreads following the killing of venture capitalist Julian Williams.
The IDC invested R35-million in a politically connected entity called Avalloy, the same company at the centre of the dispute that appears to have led to Williams’s murder on July 26. He was shot at the Cape Town office of his company, Basileus Capital, following a confrontation with his former business partner, an unregistered investment manager called Herman Pretorius.
Pretorius then seems to have turned the gun on himself. He died later in hospital.