Belvedere turns Regulator’s bland letter into a well spun victory.
Yesterday, Belvedere issued a statement claiming the no-further-action decision exonerates Cosgrove and Kellermann, proving their innocence.
Yesterday, Belvedere issued a statement claiming the no-further-action decision exonerates Cosgrove and Kellermann, proving their innocence.
Among the biggest challenges in a democracy is the differing speeds at which its two bulwarks operate.
Last time Alec Hogg chatted with David Marchant, he totted up Belvedere-related losses to around R4bn, in his opinion just the tip of the iceberg.
At Biznews, 2015 will be remembered as the year of the Belvedere Ponzi scheme.
Six months ago we were tipped off about allegations of a massive global Belvedere ponzi scheme being run by two South Africans, Cobus Kellermann and David Cosgrove.
Alec Hogg looks at why the news flow has slowed since the sensational disclosures in March around the Belvedere Ponzi scheme.
Belvedere kingpins, South African-based Cobus Kellermann and David Cosgrove have received another big smack with an expose’ in today’s Wall Street Journal.
After authorities took over and froze Belvedere’s funds in Mauritius and Guernsey last month, yesterday its Cayman Islands operation suffered the same fate.
Kellermann has at least 13 classic cars worth an average of R1m a piece in a warehouse. Five are Ferraris – a Testarossa, two 355 GTS’s and two 348 TS’s.
Unravelling complex structures like the one designed by Cobus Kellermann and David Cosgrove at Belvedere requires patience – and large pieces of paper.