While maverick millionaire Peter Ronald flits between his Franschhoek wine estate, London Embankment flat and Cape Town Atlantic Seaboard property in Fresnaye, the UK investors who’ve lost millions that he advised them to invest in the Sphere Global Properties Management Fund are determined to salvage the millions they lost.
Ronald still ducks and dives phone calls and emails, and the water he swims in is as murky as ever. While his business card claimed him to be a director of Sphere at the time he signed up most of his investors in 2007 and 2008, he maintains that he is now simply an agent for the company, which is registered in the Marshall Islands. That means its directors can remain hidden and no physical offices, auditors or financial statements are considered legally necessary.
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