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Cobus Kellermann files papers against three more media outlets

In suits seeking damages for defamation.
Cobus Kellermann has instituted proceedings against Media24, Africa Business News and Tiso Blackstar. Picture: Halden Krog/Bloomberg

Following his defamation action against BizNews editor Alec Hogg, Cobus Kellermann has instituted proceedings against three more local media companies. In papers filed in the High Court in Cape Town in three separate cases, Kellermann has stated his intention to sue Media24, Africa Business News (which owns CNBC Africa) and Tiso Blackstar (the owner of Business Day TV).

Read: Cobus Kellermann sues Alec Hogg for R5 million

The cases all involve allegations made against Kellermann in 2015 that he and business partner David Cosgrove were behind an international criminal enterprise that had defrauded investors of billions of dollars. Mauritian-based fund administrator Belvedere Management was believed to be at the centre of the scheme, together with other companies registered in Mauritius and Guernsey.

However, following a decision by the Guernsey Financial Services Commission last year that it was closing its investigation into the matter and taking no action against those implicated, Kellermann has begun taking legal action against those who carried the allegations in an attempt to clear his name.

Read: The world’s greatest Ponzi scheme that never was

Kellermann is claiming R10 million from Media24 for damages he suffered as a result of 25 articles published on News24 and Fin24 between March and October 2015. Kellermann argues that statements in the articles, many of which were originally published on BizNews and reproduced on Media24’s channels, were “wrongful and defamatory” and therefore caused him to suffer severe injury to his “name, reputation and standing”.

He adds that as a result he is unlikely to ever recover his reputation.

The case against Africa Business News is more specific in that it cites a single interview broadcast on CNBC Africa on March 24 2015. In the broadcast, Hogg discusses the allegations against Kellermann with the Financial Services Board’s deputy executive officer for FAIS, Caroline da Silva and makes certain comments that Kellermann considers to be defamatory.

Kellermann is therefore seeking a further R5 million in damages from the broadcaster.

His claim against Tiso Blackstar is also based on a single interview. This was carried by Business Day TV on March 26 2015 and featured the CEO of international financial advisory firm deVere.

Kellermann is seeking R5 million in damages for comments made during that interview that he argues cast him as being associated with a criminal enterprise and having defrauded investors.

Taken together with the claim against Hogg, Kellermann is seeking a total of R25 million in damages in these cases.

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If journalists feel they have the freedom/ right to publish

then those who feel wronged have the freedom / right to seek damages.

Whether this will succeed – – don’t have all the facts, but I see a long upward struggle for the Plaintiff.

Good luck to both parties – and thank God my kids are also lawyers – seem SA is becoming like US – litigation crazy

Methinks, and rightly so!

I followed the accusations very close and read almost every word that was written..I had a couple of ”run ins” on this site and was even told that we ”live in LaLa land” down here.

I worked in the International Markets for a life-time – local and offshore – and saw and declined a plethora of FX transactions/proposals – what we then in those days termed ”mystical millions” etc..

There are so many ”mystical million” offshore ”tax havens” that funds (desperate for yield !), are transferred and out, on a daily basis..

My argument has always been that any funds, that leave our shores, are done under the laws of the land – under surveillance etc..what happens with these funds are then no longer subject to any local regulations (exchange control, the JSE, the FSB etc)…if a private person or a fund manager decides to invest in these plethora of schemes, they do it at their own peril!

The US ”baldy” always reacted childishly on this site when I said (from day one) – stop telling us somebody lost one cent in sunny SA on these transactions – I was asking for the ”smoking gun” and he/they came up with financial ”figments of their imaginations” !

I found Alec Hogg’s correspondence/statements with regards to Werksmans attorney’s unjustified – and I think he will get his day in court to prove same – which I still doubt!

PS : I also wonder what happened to the guy with the ”green” pseudonym here ……

End of comments.





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