Jaco Jordaan appears in court again for investment fraud of more than R100-million

The trial was initially scheduled for May, but the date was extended during the lock down, Ridge Times reports.

Mr Louwrens Grundlingh, a lawyer representing the more than 100 victims of Jordaan’s alleged Ponzi scheme, also attended court on Thursday.

He said the magistrate was not happy with so many witnesses being called and had a discussion with the prosecutor and the legal representative of Mr Jordaan.

Jordaan’s legal representatives shall now supply the prosecutor with a list of all admissions made in respect of the charges against the accused.

“This would in all likelihood result in the trial not being as lengthy, as it would be when calling more than 100 witnesses to testify about each and every aspect,” Mr Grundlingh said.

“I was informed Jordaan’s legal representative did require from the prosecutor whether they are open for discussions in respect of a plea deal whereby Jordaan will pay back all the money and receive a lesser sentence, and the prosecutor indicated he is open for such discussions,” explained Mr Grundlingh.

Mr Jordaan was arrested two years ago for allegedly swindling large amounts from more than 100 residents in Kriel and Secunda. Most of these victims were either pensioners, soon retiring or people who received disability pension pay-outs.

Mr Jordaan’s assets that have been attached and sold on public auction, included a boat, sports cars and properties. His estate agency was liquidated.

According to a reliable source close to the investigation, Mr Jordaan’s other assets also included an oil refining company that was allegedly used to launder the investment money.

The criminal case in the Evander Regional Court was postponed to 14 October for the outcome of the negotiations and admissions by Jordaan.