KleuterZone CEO provisionally sequestrated

The personal estate of former KleuterZone CEO Kobus Schoeman was provisionally sequestrated on Wednesday (7 May).

He did not oppose the application.

Schoeman declined to comment on the matter, stating to Moneyweb that he may do so at a later stage after consulting his legal representatives.

He is the second high-profile individual in the KleuterZone franchise to be provisionally sequestrated, following the sequestration of founder Anthonie Bougas’s estate on 8 April.

Bougas’s parents, Rensche and Anton, are also facing provisional sequestration. They must give written notice of their intent to oppose the application by the end of Thursday (8 May).

ALSO READ: KleuterZone’s collapse: Parents of founder also facing sequestration

Schoeman’s sequestration application

Hannes Muller and Madelein Kuilder, joint provisional liquidators of KleuterZone Pty Ltd, argued in their 17 April affidavit to the Western Cape High Court that Schoeman’s conduct as CEO raised concerns about fund misappropriation, investor money abuse, and ongoing unlawful activity post-liquidation.

They detail Schoeman’s continued involvement in KleuterZone’s affairs even after its provisional liquidation on 26 March 2025.

According to the affidavit, Schoeman misappropriated funds and improperly disposed of assets and has continued to dissipate funds through third parties, including his immediate family members.

A review of the financial records shows that in addition to receiving a declared salary of R60 000 per month as CEO of KleuterZone, Schoeman received total payments amounting to more than R2.6 million between April 2024 and February 2025.

ALSO READ: Another KleuterZone company in provisional liquidation

Payment for ‘legal services’ 

The payments included sums invoiced for “legal services” rendered to KleuterZone, although Schoeman was disbarred as an attorney in 2018.

“The absence of proper documentation substantiating the services rendered, combined with his ineligibility to practice … evidences the legitimacy of the misappropriation of investor funds.”

The liquidators further note that Schoeman used his children as financial conduits to “conceal the flow of misappropriated funds”.

Between June 2024 and February 2025, over R490 000 was transferred to Schoeman’s bank account from his son’s account. Additionally, R301 000 was deposited into his account from his daughter’s account.

Moreover, on 7 and 8 March this year, soon after the first reports about KleuterZone’s financial viability were published, Schoeman transferred R400 000 and R600 000 to the bank account of his mother-in-law.

“No documentation has been offered as to the basis on which she would be entitled to such large amounts.”

ALSO READ: KleuterZone share certificates reference companies that do not exist

Misleading investors

According to the liquidators, Schoeman continued to disseminate misleading messages to investors, even after reports that KleuterZone had defaulted on dividend payments.

“[After] it became evident that the company was both factually and commercially insolvent and unable to meet its obligations … [he] continued to portray the company as solvent and on the verge of recovery.”

The liquidators note that on 1 March, Schoeman sent correspondence to two investors in which he promoted additional investment opportunities in KleuterZone schools.

ALSO READ: Bougas estate provisionally sequestrated

Provisional liquidations

So far, five of the KleuterZone management companies have been placed into provisional liquidation:

1. KleuterZone Pty Ltd;
2. KleuterZone Operations;
3. KZ Ventures;
4. KleuterZone Empowerment; and
5. KleuterZone Holdings.

The liquidation of ABS Productions, Bougas’s company known for producing promotional films, music videos, and event videography, has been finalised.

This article was republished from Moneyweb. Read the original here.