Windhoek financial adviser Hanjo Schlabitz offers assets to creditors

Troubled financial adviser Hanjo Schlabitz has offered to sell his house and shares to repay investors who have lost N$250 million after his business collapsed.

These details come from a creditors’ meeting held by liquidator Wiam Schickerling at the Master of the High Court in Windhoek yesterday.

During the meeting, Schlabitz proposed a plan to repay some of the lost millions in a bid to stop creditors from dragging him to court.

His offer included selling his N$2.9-million Windhoek house and a N$3.1-million orphanage, of which he owns 50%, together with cattle and some shares in a meat company. It excluded a family farm worth millions.

Some of those who have lost their investments, however, say this offer is ‘peanuts’ compared to what Schlabitz owes.

The Namibian understands the offer is less than 5% of the amount that was lost through his investments.

Schlabitz’s Wealth Management Solutions (WMS) entered liquidation in April after a forex trading platform it was using collapsed.