Die Burger said Herman Pretorius, a businessman from Welgemoed had used R40m of his own money to pay out dividends to investors and had launched a private investigation into his former business partner, Julian Williams’s transactions.
Williams and Pretorius apparently had an argument in Pretorius’s office in the Cape Town CBD and both died in a shooting shortly afterwards.
There was speculation that Williams was shot first and that Pretorius then committed suicide but this had not yet been confirmed by police.
An expert, who didn’t want to be identified and who was helping Pretorius with his investigation, told reporters: “In my view, things weren’t done right. I suggested a forensic audit to him and told him to appoint a strong auditing firm.”
Moneyweb had reported in June that Pretorius had invested the money of selected investors from Moorreesburg, Porterville, Hopefield, Malmesbury, Riversdal and Durbanville.
Williams was the CEO of Basileus Capital.