South Africa: How BK One Was Brought to Its Knees

Three-and-a-half years after Ponzi scheme mastermind Herman Pretorius killed his former business partner Julian Williams before turning the gun on himself, the JSE-listed private equity investment firm linked to Williams is on the verge of collapse.

When the Johannesburg Stock Exchange (JSE) suspended BK One's preference shares [JSE:BK1P] in November 2015, its share price value had plunged from R240m and R10 per share at its opening in late 2011 to a value of R2.4m and 10c per share in late 2015.

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