Investigations get underway into Cobus Kellerman and Belvedere
Yesterday, the Financial Services Board (FSB) announced that it’s assisting “with investigations into alleged Belvedere Ponzi scam mastermind Cobus Kellerman
,” reports Fin24
. The FSB is assisting the Guernsey Financial Commission and the Mauritian Financial Services Commission.
A Ponzi scheme is “a fraudulent investment operation,” notes Wikipedia
. Returns paid out to investors comes from capital received by new investors, not “profit earned by the operator”.
The FSB says it “has also engaged Mr Kellerman” and will take necessary action if required, adds Fin24
This week’s allegations have led to a number of investors worrying about the money “they put into unit trusts managed by Kellerman… [being] at risk,” says MoneyWeb
. Mr Kellerman founded “Clarus Capital in 2009”. But through a change in management last year, Mr Kellerman hasn’t had anything to do with these funds since last July.
Investments in South African unit trusts are safe
Despite investors’ worries, with the highly regulated unit trust industry in South Africa, Kellerman couldn’t have taken money out of funds, adds MoneyWeb
. This is down to “custodians that stand between investors and the fund managers to prevent any kind of fraudulent activity”.
With yet so much unknown about the activities of Mr Kellerman and Belvedere, time will tell what investigations uncover. But for the moment, investors with capital in South African unit trusts look unlikely to be affected.
*********** Advertisement ************
How much is R320,000 in PROVEN business ideas worth to you?
It’s amazing just how many people are willing to gamble their savings and hopes on business opportunities without learning more about them first. And let’s face it – business opportunities don’t come cheap.
You can expect to pay upwards of R450 – R999 for a biz op report, R2,500 – R15,000 for a course, advisory service or entry into a network marketing scheme and from R250,000–R10 million for a franchise.
But just because you pay more doesn’t guarantee better quality. Some of the best biz ops are cheap (or even free – as you’ll soon find out) while some of the greatest disappointments are literally R200,000 or more!
I want to give you systematic plans you can put into action immediately and for little or no cost. I truly believe that together we can make you as much as R320,000 a year full-time.
Take my specific wealth-building support risk-free for 14 days
. That will give you enough time to see if I can actually ‘talk the talk AND walk the walk’.