Local News
Vaal Triangle will take 10 years to recover after Krion-scheme─── 07:17 Thu, 07 Oct 2010
The High Court in Pretoria heard yesterday it would take at least 10 years for the Vaal Triangle to recover from the collapse of the Krion investment scheme. The impact of the collapse of Marietjie Prinsloo's scheme in 2002 was set out in pre-sentencing reports by social workers placed before the court. A social worker says in a report the collapse of the scheme has far-reaching consequences. Hundreds, if not thousands of investors lost everything they had worked for all their lives, including houses, pensions and investments when the scheme collapsed. Prinsloo, her ex-husband Burt, children Kobus Pelser and Yolandi Lemstra, her son-in-law Gerhard Lemstra, niece Izabel Engelbrecht and Izabel's husband Hendrick were in June found guilty on over 122 000 charges, including racketeering, money laundering and fraud involving R320 million. The trial continues.
Sapa
