COBUS Kellermann, the man accused of running the biggest Ponzi scheme in the world — worth more than R200bn — says he can’t say if it is indeed a Ponzi scheme.“I wouldn’t know if it was a Ponzi scheme,” he said on Friday, putting on a brave front despite accusations that he masterminded a transnational criminal enterprise.The accusations centre on Belvedere Management, a Mauritius-based fund manager which manages and administers about $16bn in funds. It is headed up by the Cape-town-based Kellermann, Irish businessman David Cosgrove and Mauritian Kenneth Maillard.Despite Mr Kellermann’s denials, the company, which manages hundreds of hedge funds and businesses around the world, has begun to look increasingly questionable after two of its Mauritian-based funds were shut down and others placed under investigation.But speaking from the Stellenbosch office of law firm Werksmans, Mr Kellermann denied doing anything wrong and said he had no idea what was going on at Belvedere. He said he ...
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