More than 150 people who had lost millions of rand in an investment scheme, have now also lost the chance to see their deceiver pay for his misdeeds.

Jaco Jordaan (52), a businessman from Heidelberg who was about to go on trial for fraud of more than R100 million, died of a heart attack on April 5. His trial was set to begin in the Middelburg Commercial Crimes Court on May 16.

Captain Kolobe (first name unknown), the investigating officer from the Hawk’s Commercial Crimes Unit, confirmed Jordaan’s death. Many of the victims believed it to be another of Jordaan’s tricks to avoid justice and to skip the country.

Most of the investors are residents of Kriel, Middelburg and Secunda who were either pensioners, soon to be retired or people who received disability pension pay-outs.

One such victim is Willie van Niekerk, a pensioner from Kriel.

“Jordaan was so convincing. I allowed that criminal in my house and listened to his stories.”

Van Niekerk invested R1,5m in 2015 into Jordaan’s investment scheme, Stocktraders SA, that offered a monthly return of 4,7% on investments. For a while, investors received pay-outs of between 7% and 8% until everything dried up by the end of 2017.

The Kriel and Secunda Police arrested Jordaan, who was also the owner of Access Properties in Heidelberg, at the Germiston Police Station on February 26, 2018. He was in custody in Germiston for a different fraud case which was being investigated by the Hawks in Gauteng.

Jordaan first appeared in the Secunda Magistrate’s Court, his case was eventually transferred to Middelburg for trial.

Most of the victims united as a group with lawyer Louwrens Grundlingh to represent them to attempt to get their money back. Jordaan’s assets that have been attached and sold on public auction, included a boat, sports cars and properties. His estate agency was liquidated.

With Jordaan dead, the victims hope that his estate will bring more assets to light. This will apparently be discussed in court next week.

“I don’t think there is any more money,” says Van Niekerk.

He says there are many other victims who have lost everything and are worse off than him.

Paul Swart is one of them. He invested R2,7m with Jordaan.

“I heard about the Stocktraders SA from a colleague on the mine who received a large pay-out every month.

“I was weary at first but was eventually convinced to invest money I had received from the mine after I was seriously injured in a motorcycle accident and could not work anymore.”

Swart blames the death of his wife on Jordaan.

“I had to stop our medical aid because we could not afford the payments. The stress of losing everything, became too much for Hester and she had a stroke. She ended up in a government hospital and did not receive the treatment she needed in time.”

Swart says they had to scrape by on the bare minimum.

“At least I could hold on to the house after my wife’s death.”

According to Swart, several of Jordaan’s victims have lost their homes and even their vehicles.

“I know of a couple who were well off but are now depending on lifts from others.”

Swart has returned to the employment sector and has left for a work contract in India last week.