SA fund manager faces big losses in Herman Pretorius fallout

3 Oct

Author: Julius Cobbett

Publications: MoneyWeb

Date Published: 03 October 2012

JOHANNESBURG – Two Mauritius-based funds, managed by a South African, face big losses as a result of the Herman Pretorius homicide. On July 26 Herman Pretorius shot dead his former business partner, Julian Williams, and then himself. It was later revealed that Pretorius had been operating a R3.1bn Ponzi scheme.

Williams was CEO of private-equity company Basileus Capital. He was also associated with JSE-listed BK One, which has its entire R200m portfolio invested in four Basileus-related companies. The homicide created problems for BK One, because Williams played a key role in its investments.

Already one of BK One’s four investments, Tor Construction, has been placed under provisional liquidation as a result of the shooting. BK One has since proposed an injection of various Basileus assets as part of a business rescue plan.

The biggest investor in BK One is a Mauritius-registered fund called ………

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