New York (HedgeCo.Net) – The CEO of private-equity group Basileus Capital has been shot by his former business partner, over a disagreement over the way a hedge fund was being run.
Herman Pretorius allegedly shot Julian Williams in his Cape Town office yesterday during a business meeting, he then turned the gun on himself, according to police.
According to finance news website Moneyweb, Williams and Pretorius had previously disagreed about the payment of dividends for the unlisted company SA Super Alloys.
MoneyWeb reports:
Pretorius had sold preference shares in SA Superalloys to about 500 private investors.
SA Superalloys stopped paying dividends this year. Pretorius accused Williams of failing to answer his questions about how investors’ money had been spent. He suggested that Williams may have used some of the money to fund Basileus Capital.
Williams responded that Pretorius had put pressure on him to pay dividends when the company was not in a position to do so. He also said that Pretorius was trying to divert attention from his unregulated investment scheme, the Relative Value Arbitrage Fund.
The shooting was first reported on Twitter.
Alex Akesson
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