Hermanus ‘Ponzi property’ goes for R16.5m at auction

15 Apr

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The courtyard of the Hermanus property.

The courtyard of the Hermanus property.

Publications: iOL

Date Published: 15 April 2013

A motley group of high-rollers and curious onlookers gathered yesterday to watch – and bid – as the luxurious Hermanus holiday home of a man suspected of running a huge Ponzi scheme was auctioned off as part of efforts to recoup a fraction of the money owed to investors.

ClareMart Auction Group’s executive director, Andrew Koch, egged on prospective buyers before the liquidation auction for the seaside holiday mansion belonging to the late Herman Pretorius.

The Cape Town businessman shot dead his former business partner, Julian Williams, and then turned the gun on himself in a Foreshore office block in July last year, after which his billion-rand business empire came tumbling down.

The Cape High Court had recently found that evidence …..

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