Capetonian Kellermann accused as kingpin of R200bn

By Alec Hogg

Cobus Kellermann, Stellenbosch University graduate now in his late 30s who runs Cape-based money manager Clarus Capital, has been fingered as a mastermind behind a massive global Ponzi scheme run out of Mauritius.

Kellermann’s company also manages eight South African unit trusts under the Met Collective Investments banner. They have been entrusted with R1.35bn in savings from unit trust investors.

Offshore Alert, a US-based company which specialises in uncovering fraud in offshore financial centres, describes Kellermann’s Belvedere Management as “a massive criminal enterprise”. Belvedere, which controls assets worth an eye-popping R200bn ($16.5bn) is jointly owned by Kellermann and his Irish business partner David Cosgrove.

Read full article www.biznews.com/wealth-building/2015/03/...0bn-belvedere-ponzi/

The wolf of Bird Street

The article says this Kellerman did exacty the same thing two years ago!
His strategy was fudging net asset values showing fictitious capital growth which is apparently common practice amongst fraudsters just like Tigon a decade ago.

Question and answers? www.biznews.com/wealth-building/2015/03/...-come-on-the-record/