About Me

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I am a qualified Attorney. I specialise in Property Law, Commercial Law, Corporate Law and Trusts.
 
Please visit our website at www.prop-law.co.za for more details.
 
I am an elected Committee Member of the Property Committee of the Association of Pretoria Attorneys and through my involvement, I like to ensure that I am constantly at the "sharp-end" of Conveyancing Practice.

I am the elected Chairman on the Gauteng Council of SAPOA. The South African Property Owners Association (SAPOA) is the biggest and most influential institution in the property industry. SAPOA members control about 90% of commercial property in SA, with a combined portfolio in excess of R150 Billion (about $22 Billion). I am also on the National Council and the National Legal Committee of SAPOA.
 
Member of the Institute of Directors South Africa and Member of the Sirdar Governance Panel.

19 July 2013

Pensioner commits suicide outside Sharemax offices

In my Blog I have posted so many Blog Posts on both Sharemax and Picvest.

I have always looked at it from the point of view of an interested observer with a keen interest in the Property Industry.  I was always interested in the legal ramifications of the coniving that has gone on with these two investment schemes.

When taking an analytical view of these type of activities, it is easy to forget that there is a real impact on people's lives.

I was therefore stunned to see the latest news on Moneyweb about Sharemax.  One of the investors in The Villa committed suicide right in front of the Sharemax Offices, which also happens to be very close to my house.

The fact that Nova Property Group is now simply trading as Sharemax with another name (and the same directors) while investors (many of whom can't afford it) is in my opinion an absolute travesty of justice.

Gareth Shepperson

Investor wanted directors to know the devastation they had caused.

Sharemax investor Bohuslav Kautsky, aged 67, committed suicide outside the syndication company’s offices in Waterkloof Heights, Pretoria, on Monday July 15.

Kautsky had invested R770 000 in The Villa, Sharemax’s largest syndication and one of the most toxic in the portfolio.

Kautsky’s daughter, Iva Kautsky, says her father had “no way of surviving because of the financial losses suffered by him due to the Sharemax Ponzi scheme.”

Says Kautsky’s daughter: “He was a very proud man and would not accept any help from me and was not well enough to work so he had no way of earning an income to be able to pay for his basic needs.”
Kautsky shot himself in the heart in his car outside the Sharemax offices, at 105 Club Avenue, Waterkloof Heights, Pretoria. His daughter says he chose this location so that Sharemax’s “directors would know the devastation they had caused”.

The above address is also where Nova Property Group conducts its business. Nova Property Group is a public company that owns all the properties that used to form part of the Sharemax portfolio.

“My father has read many of your articles regarding the Sharemax matter and appreciated the awareness that you have created,” says Iva Kautsky.

“He had told me many times that he did not want to live under his current circumstances anymore and how he wanted to 'make a statement' to those people he believed to be responsible for his situation.”
At the time of writing Nova managing director and former Sharemax financial director Dominique Haese had not responded to a request for comment.

Kautsky was advised to invest in The Villa by Deeb Risk of D Risk Insurance Consultants CC.
Risk was a prominent Sharemax broker who has been ordered by Fais Ombud Noluntu Bam to repay several pensioners who he advised to invest with Sharemax. Risk made news last year for his unsuccessful legal attempt – funded by a Santam subsidiary – to challenge the Ombud’s jurisdiction.

Despite several determinations made by Bam against Risk, his close corporation is currently an authorised financial services provider and continues to conduct business from its office in Van Riebeeck Avenue, Edenvale. Furthermore, Risk is still a key individual and representative of D Risk Insurance Consultants, according to the Financial Services Board’s website.

Risk’s office informs Moneyweb that he is currently travelling overseas and is not available for comment.

MONEYWEB

2 comments:

  1. And Deeb Risk will get away with it because he is adequately funded by the Sanlam subsidiary " public liability " cover he has and the total inadequacy of the FSB's processes to provide any protection for investors who have been defrauded .

    ReplyDelete
  2. Really a good one. Thanks for sharing the post.This is one of the highly attractive.

    ReplyDelete