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Failed funding bid hastened HGG Financial Group’s collapse – Moonstone Information Refinery
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Failed funding bid hastened HGG Financial Group’s collapse – Moonstone Information Refinery
When the promised funding failed to arrive, the house of cards collapsed. On 4 March 2022, the body of Hendrik Gerryts (pictured) – the controlling mind behind Somerset West-based investment business HGG Financial Group – was found in Hermanus, a day after he had been reported missing. Just over a month later, the Western Cape High Court placed HGG in provisional liquidation as investors scrambled to understand the scale of what had gone wrong. …
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