Publications: PSG Konsult
Date Published: 30 October 2012
During the last two months, I have had many emotional visits by investors, some of them hoping for some relief in the difficult situations they find themselves in, others looking for a shoulder to cry on.
Most of them lost money in Herman Pretorius’s Relative Value Arbitrage Fund (RVAF). It was in fact never a fund, but only a private trust.
Some of my friends, who knew that I had investigated the scheme two years ago and recommended that investors should withdraw their money as soon as possible, sheepishly admitted they had not believed me and had invested more money in it.
Some investors had not yet made up the losses they had suffered in other property syndications and had now lost money in the RVAF as well.
After 21 years in the industry, I have seen the same story over and over again. The same factors were present in every one of the investment schemes where .…