Hunt for R1.8bn invested with financier

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shooting at business meeting

INLSA

Paramedics remove one of the victims of a shooting incident that happened at Basileus Investments at the ICON Building in Cape Town. One victim died on the scene. Photo: Leon Lestrade

The master of the Western Cape High Court is expected to appoint a curator to track down R1.8 billion owed to investors by a trust fund set up by Herman Pretorius.

Earlier this week a judge ruled that a curator should take over Pretorius’s Relative Value Arbitage Fund.

Pretorius is alleged to have shot and killed his former business partner, Julian Williams, in a Foreshore office last week before turning the gun on himself.

The shooting incident came a short while after investigators from the Financial Services Board had questioned Pretorius about an unregistered trust fund.

Gerry Anderson, deputy executive officer of the FSB, said it had received complaints that Pretorius had been soliciting investments from clients without an operating licence.

Details about Pretorius’s 30-year history in financial services have begun to emerge.

JB Le Roux, of JB le Roux Insurance Brokers, told Moneyweb how Pretorius had persuaded him to “park” R1.2 million of clients’ money in a JB le Roux bank account.

This was after complaints from FNB clients – where Pretorius was an insurance broker in the 1990s – had caused the bank to freeze his accounts and initiate an inquiry against him.

* Pretorius’s Hermanus holiday home is ”Luxury House of the Month” in this month’s edition of House and Leisure magazine.

Cape Argus


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