Strange events after millionaire's suicide

2012-10-23 10:06

Cape Town - Strange and suspicious details have emerged following the death of controversial millionaire and alleged fraudster Herman Pretorius, who committed suicide in Cape Town earlier this year.

A curator appointed by the Western Cape High Court revealed in a statement that she had been informed of several irregularities involving large amounts of money, reported Die Burger.

For instance, all of the money from Pretorius’s bank account was withdrawn after his death, revealed Rynette Pieters.

She also said that a court sheriff had found a bag containing R55 000 in cash in the home of Pretorius’s widow, Susan.

Pieters said initial investigations showed that Pretorius never invested any of the money received from investors and simply used one investor’s money to pay out another investor’s so-called returns.

At the time of its provisional liquidation, Pretorius’s Relative Value Arbitrage Fund Trust owed investors about R3bn.  

She said it could be inferred that Pretorius’s R30m home in Welgemoed, Cape Town - which was registered in his wife’s name - was bought with investors’ money.  

  • annerie.m.coetzee - 2012-10-23 10:18

    Money.....Satan's right hand! Wat mense nie als sal doen vir rykdoen nie!!!!!

      deon.louw.7505 - 2012-10-23 11:00

      It is not a sin to want to accumalte wealth, only if you do it on a dishonest way. It is more of a sin when you are poor and blame the whole world for it and doing nothing about it.

      Rational100 - 2012-10-24 07:42

      yes...the proof is the money!!

      ria.wilson - 2012-10-24 13:17


      vincent.mafooa - 2012-10-24 14:25

      @peterpeter you correct man, it's actually mankind that is evil, money is just pieces of paper and coins or numbers on your bank account, it cant display any form of evil, it cant cheat, it cant speak, it cant kill...but the minute you involve a humn being, thats when you will witness real evil coming out of people. Others can even sell their souls and family members to the devil just to gain that wealth, so money after all is not evil, people are.

      alan.jerrold - 2012-10-24 15:06

      The true Bible quote is: 'The love of money is the root of all kinds of evil.' Anyone care to disagree?

      bobby.pandaram - 2012-10-24 17:47

      @peter - show me logically how you came to that conclusion.

      liveby.thesword.1 - 2012-10-24 22:40

      money is not the root of evil....the love of money is the root of all evil.....

  • sanchez.sancho.7 - 2012-10-23 10:19

    so what are you gonna do? charge him?

  • charlesmakgale.radingoane - 2012-10-23 10:24

    Price of a davil is not for free.

      merven.halo - 2012-10-24 06:38

      So, where can I buy a davil? ;)

      kenpeg.dawson - 2012-10-24 14:01

      Davils are a dame a duzen

  • vicki.malatse - 2012-10-23 10:56

    Hehe he was successful,he was rich,he was working hard,rest in peace.Most of this people get rich by stealing and scheaming#rest in pieces

      alex.marshall.944023 - 2012-10-23 17:25

      No Vicki, that is just how government and the politically well-connected do it...

      Blackpoison - 2012-10-23 19:35're quite the village idiot aren't you

      merven.halo - 2012-10-24 06:39

      Vicky must be a ANC cadre, not seeing anything wrong with crime.

      jacowium - 2012-10-24 09:31

      Yes Vicki, his well-earned (?) money gave him such a happy life, he committed suicide. I hope you understand what I'm saying.

  • sarah.bouttell - 2012-10-23 11:01

    If the wife had any moral fibre whatsoever, she would sell the house and pay back the investors.

      gerda.vanrensburg - 2012-10-23 13:19

      If the investigation proves the house was paid out of investors money then I would presume it will be confiscated as well.

      Rational100 - 2012-10-24 07:38

      "investors money" do u prove that? is nothing else but legal tender, a promise to pay, a medium of exchange... Investors also earn money and they call this "income earned". Also investment is about taking risk - u can win or loose in an investment. It's another question whether wining or loosing happened responsibly or irresponsibly.

      narike.lintvelt.9 - 2012-10-24 13:24

      I hope the wife is under investigation...

      dudu.son.1 - 2012-10-25 10:44

      Do not worry the wife might marry one of the late husband's colleagues not long from now

  • mo.haarhoff - 2012-10-23 11:09

    If it sounds too good to be true, it probably is too good to be true. People who consider themselves better informed are aware that these things happen when the promises are too good, but many still fall for them and must consider themselves truly scammed. I empathise with them. The above account screams 'ponzi', and if that can be proven, Mummy Pretorius may still lose her house; seems the bank was only informed of Daddy's death some time after the fact. But this story by no means equates to what our state is doing with Treasury money...they're not in the same league.

  • thomas.g.loeser - 2012-10-23 11:19

    Live by the sword and die by the sword ( scam artists and investors alike ) You surely would know the risks involved when you get caught up in these get rich quick schemes, so no time for tears now! )

  • Andrea - 2012-10-23 11:31

    The Asset Forfeiture Unit will most definitely take what they can, unfortunately the proceeds of any such auction will not be going towards the people who lost money, but the state, so in the end the cadres get to share in this illgotten gains, as usual.

      ray.molekoa.5 - 2012-10-23 12:38

      Lame ! Somebody gets the blame as usual with you whites . Pretorius did his own gullible too trusting fellow political victims in , and cadres must be blamed for their stupidity . When are you going to accept that there are , and has always been white criminals in this land and find it easy to deal with the fact ?

      merven.halo - 2012-10-24 06:42

      "Somebody gets the blame" Um, when there is crime there is always somebody to get the blame, idiot.

  • thando.ramncwana - 2012-10-23 12:05

    Ooh so we do have white millionaires in South Africa after all.

      rodney.currie.79 - 2012-10-23 15:38

      Noooo We used to .

      nhlanhla.mahlangu.7393 - 2012-10-24 23:21

      am also puzzled, i tot they stole enough durin apartheid!

      rodney.currie.79 - 2012-10-25 09:35

      Who knows, but if so its all been stolen back , and then some !!

  • gerrit.vanpletzen - 2012-10-23 12:27

    Pretorius was just another crook and scamster. I wonder how stupid the public must be to be caught time and again by scum like him. It's all about greed. The more attractive the proposition, the more you should be alert. The old saying that if it looks too good to be true, it usually is, still makes sense. South Africans are very gullible, unfortunately. Just remember, a conman can only do his cons if he appears to be a nice guy. If he can make so much money for you on your invetment, so can your bank, who employs well trained personnel.

      Cherri - 2012-10-23 13:58

      It's the greed that blinds them. If they're greedy and stupid enough to fall for these scams, I have little sympathy for them.

      mike.bundy.73 - 2012-10-23 14:30

      Unfortunately there is a large group of people that are not as worldly-wise, not as well educated, not as au fait with modern scams, not as mistrusting as we are. Older people with more trust, people with no real idea what current interest rates are, people without internet access or even a bank account. These are the people that are preyed upon by these scam artists. They are not all neccessarily stupid, often just ignorant, trusting or unaware.

  • mshiniboys - 2012-10-23 13:07

    If you live by fraud you will die by fraud...He messed with wrong people and was forced to commit suicide.Give it a long enough leach to hang itself.

      pearson.botha - 2012-10-24 09:52

      If someone forces somebody to commit suicide it's called murder. Your post is nonsensical, but nevermind, 98% of the blogs on news 24 are nonsensical, so you are not alone.

  • smomvanwyk - 2012-10-23 13:44

    Really, really!! ' I wonder how stupid the public must be to be caught time and again by scum like him. It's all about greed. The more attractive the proposition, the more you should be alert. The old saying that if it looks too good to be true, it usually is, still makes sense. South Africans are very gullible, unfortunately'.This seems to be the standard statement made by all outside of these 'scams'. I invested approx 5 yrs ago after much deliberation and questions, questions, questions with a company called Bluezone(property syndication - 'your money is in bricks and can, therefore, not be lost.' The monthly RETURN on my money WAS LESS than I would have gotten elsewhere, however, the advandage would be long-term. So much for the gullible public. Bottom line is, put your money in the bank or own property albeit that there are also ebbs and flows there.

  • julie.khan3 - 2012-10-23 19:55

    Honesty is the best policy.U will live happily for years. half a loaf is better than grateful and give thanks for the little you have U will live a peaceful life. Look at this millionare.How tragic!!Neednt happen in the first place!!

  • kobus.kaunda - 2012-10-23 21:03

    Pieters said initial investigations showed that Pretorius never invested any of the money received from investors and simply used one investor’s money to pay out another investor’s so-called returns. THATS CALLED A PONZI SCHEME FOLKS!!!

  • precious.yumyum - 2012-10-24 04:06

    there are the results of greed. it is what happens when we fail to be grateful for what we have already been blessed. and we get prepared to steal and kill for our insatible spending appetite.

      merven.halo - 2012-10-24 06:44

      True, pity the ANC cadres don't commit suicide when exposed.

  • jvwesthuizen1 - 2012-10-24 08:10

    So what now. Stop investigating and get the money back for the investors. Who cares for whom he bought what. I sure as hell don't think the investors care as they only want some relieve for the money lost!

  • elizemare - 2012-10-24 08:17

    You cannot trust anyone these days, especially Investors, coz they are the only ones who benefit from these Investments!

      aj.coetzee.9 - 2012-10-24 13:32

      uuuhh, what?

      sk.vanderwhatever - 2012-10-24 20:27


  • patrick.hankey.5 - 2012-10-24 08:36

    just another "get rich quick scheme" with greedy investors. When sounds too good to be true, beware!!!

  • Vince.York - 2012-10-24 09:04

    Isn't this just normal 'transformation and redistribution of wealth' just like the rest of the tax payers funds is being shoveled out into the BEE troughs and being scattered by a few trotters?

  • gail.hayesbean - 2012-10-24 10:36

    I want to acknowledge as a white person that there are crooks in every part of society not only blacks and I condemn this man for stealing from the greedy, desperate and just plain stupid peole who believed they could get something for more than legitimate interest in these hard times.Ialso want to say however to all the Africans who query why the comments are less harsh about this particular crook that he took himself out like a coward because he actually accepted responsibility for what he had done. The people who lost their money are sad to say equally resonsible for falling for it. In the case of the ANC criticism WE and I mean each and every one of us regardless of historical or ethnical particulars have no choice but to pay taxes and this includes the grant recipients even because there is no way to avoid contributing money to SARS and the Treasury and the ANC are using that money NOT to improve and maintain and ensure service delivery to the poorest of the poor. Instead they are helping themselves to it (see Inkandla eg) and while preaching austerity and BEE etc only a very small group of ANC connections are reaping the fruits of YOUR money. This is the difference between the two issues. Not only are the ANC corrupt but when they are caught they attempt to silence ignore deflect all responsibility for what they have done onto the victims or colonialists or boers instead of accepting their failure and rectifying it by immediate resignation.

  • karlu.unos - 2012-10-24 12:10

    Pretoruis is no different... Banks do it all the time.. Its called a structured ponzi scheme

  • kate.thompson.56808 - 2012-10-24 12:23

    Another three thousand folks go to the poor house. Where is the FSB?

  • thando.january - 2012-10-24 13:04

    Let him hang in there...the vultures are hungry.

  • kenpeg.dawson - 2012-10-24 13:59

    Stupid investors will never learn. If its too good to be true it is not true.

  • Oraniaboer - 2012-10-24 20:25

    Funny how the money dissapeared the day after his death from the bank. Mmmm?

  • marcanthonytaylor - 2012-10-24 22:20

    How misleading. I was expecting powder foot prints, photographs that were destroyed in a fire reappearing, doors opening, moerse chadeliers swinging around, burning ouija boards and people being dragged out of bed at 4am. The events mentioned are not strange, they are not events either. The are facts that have emerged during an investigation.

  • sipho.dlamini.75685 - 2012-10-24 22:33

    So who is the thief now?

  • tibo.ntsi - 2012-10-25 09:42

    Didnt they steal enough during their Apartheid...still.

      Mike - 2012-10-25 19:30

      When the white men came to africa, there was nothing to steal. Then they built up a great country, and gave it to you lot, who are determined to destroy it. ( When I say you lot, I don't mean colour, I mean wankers.)

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