Earpiece 8 - Your Opinion
FEEDS |

Feud rips Krok family apart

Feb 6, 2010 10:35 PM | By Kin Hawkey

Health of skin-lightening tycoon Abe, 80, sinks as five of his children fight stepmother and their brother


Current Font Size:
AT ODDS: Abe Krok, top, his twin, Solly and his son Maxim, below
AT ODDS: Abe Krok, top, his twin, Solly and his son Maxim, below

Related Articles

Tycoon Abe Krok's wife and children have been at odds over control of the family's vast fortune.

And the deep-seated distrust between the 80-year-old's adult children and his wife has affected the health of the ailing former businessman.

Krok and his identical twin, Solly, made a fortune selling skin-whitening cream in the apartheid era and added to their wealth by founding Gold Reef Resorts and casinos.

Now, following a High Court application by five of his six children, the former businessman has been declared incapable of managing his affairs.

In December, a final order granted in the High Court in Johannesburg confirmed an earlier order that stripped Krok - a former pharmacist worth more than R1-billion - of all power over his affairs.

The case has revealed Abe Krok's decline from a shrewd businessman and socialite to a fragile and confused old man.

In addition to coping with the effects of dementia and Parkinson's disease, Krok has had to put up with squabbling between his children from his first two marriages and Rosie, his wife for the past 26 years, over control of the family empire.

Five of his six adult children - Elana Pincus, Shelly Croock, Simone Lerman and sons David and Mark - obtained a court order to have a curator appointed to take over his affairs.

The Krok fortune includes several family trusts, each holding "many hundreds of millions of rands", set up in 1994.

Krok's eldest son, Maxim, and his stepmother, Rosie, did not want a curator - unless it was one or both of them.

The five siblings accused Maxim of putting documents in front of their vulnerable father and coercing him to sign.

Pincus, Krok's eldest daughter and a medical doctor, said in an affidavit: "It is the view of the applicants that Maxim has sought to exert undue influence over the patient over the past few years, and has induced the patient into executing various documents, the import of which has not been appreciated by the patient."

The five children also claimed that Rosie, although a loving and supportive wife, was a reckless Internet gambler.

In a report submitted to court, interim curator advocate Karen Green noted that the five "allege that (Rosie) is a profligate gambler on the Internet and that ... the trusts have been required to bail her out of the debts which she has incurred in this way".

"They alleged that during the period 27 June to 22 July 2008 Rosie spent at least R85700 on Internet gambling."

Green said the children claimed Rosie had little control over her expenditure and had regularly exceeded the limits of money made available to her.

Furthermore, Green said, it was not feasible for Maxim to be placed in charge of his father's estate, as his brothers and sisters had genuine misgivings about him and did not trust him.

She told the court that Maxim and his stepmother had accused the others of going to court to get "back door" control of valuable family trusts, rather than being motivated by any true concern for their father.

Maxim and Rosie believed that the others were "incapable" of earning money and relied on income from the trusts.

Green said they suspected the others would try to manipulate a curator for control of the valuable family trusts.

The two added that, with the exception of David Krok, the other children were "estranged" from their father.

Maxim declined, through an attorney, to comment. He managed the trusts through his company, Highveld Medical Services. In the past, he is said to have refused the other children access to trust meetings unless they made "onerous confidentiality undertakings".

Krok, who lives in Sandhurst, Johannesburg, lives off monthly loans from the trusts, as well as money from Maxim and Mark, which isn't meant to be repaid.

The recent court order confirmed the appointment of a curator and provided that the trustees could act without Krok if he lacked the capacity to do so.

Doctors' reports attached to the application detailed how Krok's health has deteriorated in the past four years.

His family described incidents where Krok buttered a serviette instead of a slice of bread, wrote on a tablecloth instead of a piece of paper placed in front of him, imagined seeing a woman who wasn't there and called his wife by the name of a former spouse.

  • There are concerns that the emotional stress of dealing with the Krok dynasty has added to the octogenarian's deterioration. hawkeyk@sundaytimes.co.za
 Loading...

 or  to comment

Comments

Feb 7 2010 07:03:56 AM
shrott
user name
The success of criminal skin-lightening creams shows that most people do not like to be black and beautiful. They prefer to be white and beautiful.
Feb 7 2010 07:45:51 AM
DA-Sucks
user name
@ shrott, unfortunately that is the legacy of apartheid instilling a sense of self-hayte if you are not white. People have woken to the fact white is not necessary right and mighty, just an illusion. It is for that reason that I don't buy my daughter a Barbie doll but a Black doll to instill Black pride and power since most whites want to be dark skinned with their continous need for tanning.
Feb 7 2010 10:10:12 AM
Adoons
user name
The kroks are turning cannibal
Feb 7 2010 12:54:26 PM
Rockspider
user name
Oh dear, even the "kinky of pop" wanted to become a whitey. It is hell to be a coconut.
Feb 7 2010 02:32:52 PM
Jane Molamo
user name
shrott you are a racists pig.....please immigrate

As for the Krok Bros, I am really not surprised..... they sold sub standard skin products that burned countless faces without taking any financial responsibility. Your greedy children especially you Maxim are a disgrace to the Jewish faith and culture. From what I have seen, South African Jews are the most materialistic & greedy Jews compared to what I have experienced abroad. Shame on you!!!!
Feb 7 2010 04:45:00 PM
whitelikeme
user name
Hey Schrott, you really laid the bait there, my man!

DA-Sucks, it is funny how light people want to be dark and dark people want to be light - we're never happy. It is possible that I am prejudiced but I try not to pass any of this down to my kids, but, of course, the day will come when they're older that the reality of racism in the World will hit them slap bang in the face and then they will be free to make up their own minds about humanity.
Feb 7 2010 08:12:42 PM
DA-Sucks
user name
@ whitelikeme, the reality is the world will continue to be along racial lines.. like the Cape coloureds, they view themselves more white than Black and a white man is always there to remind them that they are more black than white.... same goes with children somehow life and their experiences will always remind them of who they really are, might as well prepare mine for the journey ahead. No apology about that.
Feb 8 2010 09:00:46 AM
Romani
user name
I couldn't agree more with u @ DA-Sucks about the Cape Coloureds , I live in the cape , cape C's always think that they are better than their black sisters and brothers , well I am glad that i was born in a family of Blacks , Whites and Coloureds so much mixed races under one roof. Therefore I was born a Black man with a Coloured skin and hair with a Mother of being half C and W .
So living in the WC , I have seen and heard remarks bout blacks that made me so furious at times and lashed out at some ppl.
@DA -Sucks I always told my self I will never buy my kid a white doll nor even even a gun as a toy.....so these brothers are ripping the benefits of apartheid regeime today and their children are fighting over that today.....
Feb 8 2010 01:28:58 PM
azaniaisfree
user name
Casino magnate in court to stall Tax Office - Sydney Australia December 9, 2009


MULTIMILLIONAIRE pharmaceutical and casinos heir Maxim Krok will today take on the Australian Taxation Office in an attempt to delay an examination of his tax affairs.

Mr Krok, who with his father owns about $240 million worth of shares in a South African casino company, is due to be grilled at the Tax Office's Sydney headquarters on December 16.

But he will appear in the Federal Court today to fight the order because he is returning home to South Africa on December 14 to deal with ''pressing family, compassionate, humanitarian and business'' matters.

Mr Krok, 53, lives in the $30 million( Rand 202 million) Vaucluse mansion Tahiti, one of Sydney's most expensive homes.

His father Abe made his fortune from patenting a skin-lightening cream that turned out to be mildly carcinogenic and was removed from sale.

Mr Krok launched his attempt to delay questioning on December 1, two weeks after he was sent a notice ordering he attend the Tax Office for questioning under oath. It was the second notice requiring Mr Krok to appear and give evidence about his income.

The first notice was issued in the first week of November, and told him he would be questioned about the income of entities he controlled between July 2000 and June 2009.

This notice was withdrawn by the ATO after Mr Krok challenged it in court.

In this second legal case, Mr Krok wants the court to rule that he may defer his examination until after his return from South Africa on February 22.

If Mr Krok does not win tomorrow's attempt to defer his examination, he will likely be unable to leave the country on December 14 because refusing to attend and answer questions on December 16 would be a criminal offence.

Mr Krok's lawyer, Alistair McKeough, a partner at Morgan Lewis Attorneys, said his client did not want to comment.

Source: The Age



Today's Topics