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).