PwC helped Herman Pretorius sell his R1.8bn fund

20 Aug

Author:  Julius Cobbett

Publications: MoneyWeb

Date Published: 20 August 2012

Audit firm admits to “facilitating” meetings but denies recommending Pretorius’s scheme.

JOHANNESBURG – Audit firm PricewaterhouseCoopers “facilitated” investment meetings held by the late Herman Pretorius. Before his death Pretorius had been operating an unorthodox investment scheme called the Abante Relative Value Arbitrage Fund (RVAF). This fund, which took the form of a trust, was provisionally sequestrated by the Western Cape High Court on August 1. The fund is believed to owe R1.8bn to 3 000 investors.

A number of readers have contacted me claiming that PricewaterhouseCoopers (PwC) was involved ……..

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