This follows Judge Burton Fourie’s decision on Wednesday to grant an order to provisionally sequestrate the Relative Value Arbitrage Fund which was run by Pretorius.

The application to sequestrate was brought on Tuesday by attorney Morné Strydom, a client of Pretorius who had an investment of R230 000 in the scheme.

The three curators are Lambertus von Wielligh Bester from the firm Progressive Administration, Rynette Pieters from Independent Trustees and independent curator B Pieterse. 

They have been ordered to take control of the assets and to start forensic investigations with immediate effect. The business premises previously occupied by Pretorius have been secured and locked down.

It is typical in a big matter like this for the Master to appoint more than one curator, says Rynette Pieters. Each curator is to be allocated roles and responsibilities today. Pieters expects she will be responsible for the administration and the interface with investors.

Once their investigation is complete the High Court will be in a position to determine whether the sequestration order needs to be granted or not.

The Relative Value Arbitrage Fund had an estimated 3 000 investors who are owed about R1.8bn.

According to Pieters, Independent Trustees will create a page on their Website www.corprecover.co.za under the banner “High Profile Matters” that will provide investors with information concerning the investigation and stating where investors can lodge queries.

The return date for the sequestration is September 3.

– Additional reporting by Julius Cobbett.