Bloomberg News

South Africa Court Orders Fund of Basileus CEO Killer Wound Up

August 01, 2012

South Africa’s High Court approved an application for an investment fund run by Herman Pretorius, who shot the chief executive officer of Basileus Capital Ltd. dead before killing himself, to be wound up.

An investor in the fund and lawyer, Morne Strydom, applied for the sequestration after the July 26 shooting, Strydom said by phone from Cape Town. Judge Barton Fourie granted the order today, he said.

Pretorius, 40, shot Julian Williams, 37, in the neck and the chest, before shooting himself in the head, according to Police Captain Frederick van Wyk. Pretorius and Williams had been partners in Abante Capital, a Cape Town hedge fund.

The court will appoint a trustee for Pretorius’ RVAF Trust on Aug. 3, Lambertus Von Wielligh Bester, a liquidator at Progressive Administration Pty Ltd. and who applied to be the trustee, said by phone.

“I have been told, and I haven’t been able to verify, that there approximately 3,000 investors involved,” Bester said.

The Pretoria-based Financial Services Board started a formal investigation into Pretorius last month, Financial Services Providers Deputy Registrar German Anderson said on July 30.

To contact the reporter on this story: Matthew Hill in Johannesburg at mhill58@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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