KEY POINTS
- Investor seeks liquidation of KleuterZone over alleged Ponzi scheme.
- The court will hear the urgent application as fraud allegations intensify.
- A private investigator will launch a probe into the company’s financial activities.
The Gauteng High Court in Pretoria is set to hear an urgent application on Tuesday for the liquidation of KleuterZone, an investment scheme founded by former singer and TV presenter Anthonie Bougas.
The application follows allegations of fraud and financial mismanagement within the company.
The applicant, Anita du Plessis, who invested one million rand in the franchise, claims that KleuterZone has failed to pay investors their promised dividends.
She fears the company is operating as a Ponzi scheme and is calling for immediate court intervention to prevent further financial harm.
KleuterZone, known as a nursery franchise, previously promised investors annual returns of up to 62.4 percent.
However, Du Plessis believes these promises were misleading. She stated in court papers, “Despite claims of high returns with low risk, the company has misrepresented its investment model and engaged in questionable financial practices.”
Investors allege fraud and demand financial transparency
Du Plessis claims that new investment money went directly to compensate older investors through a classic Ponzi scheme.
Initially, she received regular payments, but these later dropped without a proper explanation. When she queried the reduced dividends, the response was that it was due to “dividend tax.”
Concerns grew when she noticed discrepancies in share certificates, with some bearing invalid company registration numbers.
According to IOL, she stated that this could indicate fraudulent activity within KleuterZone’s financial operations.
Du Plessis also noted that KleuterZone operates multiple subsidiaries, but their financial dealings are unclear. Additionally, she pointed to KleuterZone’s association with KZ Select Group 1 Ltd, a company also facing scrutiny over its financial conduct.
Despite repeated requests, KleuterZone has not provided its audited financial statements or credible documentation on how it used investors’ funds.
Lack of transparency has increased investor concerns about money loss if the company’s operations collapse.
To complicate matters, Du Plessis claims that Bougas has fled the country amid the unfolding scandal.
She emphasized to the court the immediate need for intervention because investor safety stands at risk.
Private investigator launches probe into alleged scheme
Meanwhile, private investigator Mike Bolhuis with his renowned team has begun examinations into the charges against Bougas and KleuterZone.
“We have been inundated with complaints from the public regarding this investment scheme,” Bolhuis said. He promised a thorough investigation to determine the extent of the alleged fraud.
Bougas, however, has defended KleuterZone, stating in a previous statement that the company remains committed to quality education and investment integrity.
He described claims against the company as part of a smear campaign and insisted that KleuterZone is a trusted leader in early childhood education.
As the court prepares for the case, more investors are likely to come forward. The outcome could have significant implications for KleuterZone and the broader investment landscape in South Africa.
