Curators struggle to trace Herman Pretorius’s Ponzi billions

16 Oct

Author: Julius Cobbett

Publications: MoneyWeb

Date Published: 16 October 2012

Less than R300m of estimated R2.2bn traced; family served with Anton Piller order.

JOHANNESBURG – Curators for Herman Pretorius’s investment scheme are struggling to track the billions he solicited from investors.

On July 26 Pretorius shot his former business partner Julian Williams before turning the gun on himself. Evidence emerged after his death that confirmed suspicions that Pretorius had been running a massive Ponzi scheme called the Relative Value Arbitrage Fund (RVAF).

RVAF curators estimate that the scheme received R2.2bn from about 3000 investors. At the time of Pretorius’s death, the RVAF owed an estimated R3.1bn to investors.

The difference between the amount received and owing is most likely explained by the fund’s performance ………

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