Bookmark this on Delicious
The mastermind behind this fraud was four South Africans,
Renso du Plessis, Stefan Pretorius, Basie Venter and his son Juan Venter.
They ran their office in Mauritius, traded under the name of Leaderguard Spot Forex doing their business under the radar as it would seem.
Having a company like KPMG backing them ,having statements showing huge growth on individual investors accounts, with Saxo Bank no one would have expected that it was all a Lie.
When this all went sour , they tried to keep it out of South Africa, making it impossible for the small guy, the ones who has lost everything.
They had no chance, as the legal fees to try and fight something like this on International Soil would be enormous and the individuals would not be able to afford it. They would have just had to cut their losses and forget it.
There are 889 Investors that where caught with this scheme.
Most of them from South Africa, a lot of them losing their pensions.
The value of the first claim against KPMG is $ 35 Million.
Most of the investors have lost all their money , so how would they be able to fund this ?
One group of Brokers who where also foiled by this, decided to assist their clients and anyone that had invested in this scheme.
The Company is called Avocado investments who then called in a group of heavy weight attorneys to fight for this just cause.
Sim & Botsi Attorneys INC, took on the case headed by Sean Sim.
Through some smart work from the Investors legal team,
they have managed to bring the fight to South Africa.
Already having had their first day in the Durban High Court and then having it moved to the 1st of December.
4 comments:
Hi,
Wow I was almost taken by this Scheme,
I am glad to see something is being done about it.
I will be watching this.
Regards,
Rose Slater
More than anything, I would like to see the masterminds do hard time. It seems to me that they are getting away scott free.
Regards
Nigel
More than anything, I would like to see the masterminds do hard time. Apparently the have a history of involvement in financial scamming and need to be stopped. It irks me that they appear to be getting off scott free.
Please note that the company that stepped in on behalf of the investors is Avocado Investments (not Avocando).
In my opinion, had it not been for the dogged determination of its director, Andre Matthews, this atrocity would not have reached the media in the way that it has and investors would not have had a hope of seeing a penny in the liquidation.
Post a Comment