Ovation, a linked-investment services provider (Lisp), was put under curatorship after the Financial Services Board discovered that the owner, Angus Cruikshank, stole R216 million of investors' money.

John Levin, a co-curator of Ovation, says assets in the affected companies are now depleted and, in terms of the court order confirming the curatorship, the costs now have to be met by the investors. Ovation's higher-than-normal charges are a result of legal actions aimed at recovering the money stolen from investors and reconciling investor accounts for the first time in three years.
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