Curators seek to freeze Pretorius' family assets

By Staff Writer

Moneyweb has reported that curators of the RFAV Trust, a scheme managed by the late Herman Pretorius, are concerned that his family could be hiding assets.


The website reported that the curators have approached the Western Cape High Court to grant an order to freeze certain assets and funds, saying that the assets belong to the 3,000 or so investors who invested around R2.2bn in Pretorius’s schemes.


Joint curator Rynette Pieters said that without the order “there is a very real fear that the assets will be secreted.” Pretorius’s widow, Susan Ann Pretorius and her lawyer have opposed the move.


Justmoney reported in August that the Financial Services Board (FSB) that it was investigating financial advisors and brokers that promoted the RVAF fund managed by Pretorius.


It is understood that Pretorius shot himself in July after gunning down his business partner Julian Williams. The RVAF Trust was placed under provisional sequestration on 2 August by the Western Cape High Court. The FSB said it supports this action and encourages investors to take the necessary legal action to attempt to recover their monies.


According to reports, the RVAF Trust is also being investigated by The Directorate for Priority Crime Investigation (Hawks).

Recent Articles

Featured When should you invest rather than save?

Extra cash left at the end of the month? We have a look at the differences between saving and investing, and we find out how you should decide which one to pursue.

Investing for your retirement – which product to use?

Retirement annuities (RAs) and tax-free savings accounts (TFSAs) - which is better when planning for your retirement?

3 Reasons for early entry to a retirement village

Your parents may envision their golden years on the porch of your childhood home. However, it’s good to look at the benefits of joining a retirement village.

What do activist investors aim to achieve?

If you had the financial means to invest in a company so that you can enact the change you want to see in the world, would you do it? There is a growing group of individuals who would, and these are known as activist investors.


Latest Guide

Guide to debt rehabilitation solutions