Pretoria High Court orders forfeiture of R4m from ZencoCare, tied to Louis Liebenberg’s fraudulent diamond investment scheme.
The High Court in Pretoria has granted a final forfeiture order against R4 million from a company linked to notorious diamond dealer Louis Liebenberg and his wife’s fraudulent investment scheme.
The National Prosecuting Authority’s (NPA) Asset Forfeiture Unit (AFU) has secured R4 million plus interest from a Standard Bank account under the name ZencoCare.
The company is part of the Forever Diamonds and Gold group of companies. The sole director of ZencoCare is Desiree Liebenberg, Louis’ spouse.
Forfeiture of R4m from ZencoCare, tied to Liebenbergs
The Liebenbergs, Magdelena Petronella Kleynhans, and several associates are accused of fraud. Those accused also include Johannes Petrus Badenhorst, Helena Dorothea Amy Schulenburg, Adriaan Dewald Strydom, Christelle Badenhorst, Nicolize van Heerden and Walter Niedinger.
They face 42 counts of fraud (alternatively theft), five counts of racketeering, and six counts of money laundering. They also face various statutory offences, including contraventions of the Companies Act.
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The couple is implicated in an illegal investment scheme that promised lucrative, short-term returns. It lured people in South Africa and abroad to invest in diamond parcels.
“Investigations revealed that no such diamond parcels existed. Instead, investor funds were misappropriated and used to pay earlier investors, in a manner typical of an unlawful multiplication (Ponzi-type) scheme,” NPA regional spokesperson Lumka Mahanjana said on Thursday.
According to Mahanjana, ZencoCare transferred R5 million to attorneys in 2024. R1 million was paid to Eskom for mining-related activities. The remaining R4 million was preserved.
Funds earmarked to buy diamond mining company
The amount has now been forfeited to the state, along with any interest that has accumulated.
The funds had originally been earmarked for the purchase of West Coast Resources (Pty) Ltd. This is a diamond mining company in the Northern Cape.
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“The forfeited funds will be paid into the Criminal Assets Recovery Account (CARA), ensuring that proceeds of crime are redirected to the state to strengthen the fight against organised crime and corruption,” Mahanjana said.
The NPA welcomed the High Court’s ruling. It said the ruling reinforces that criminal businesses will not be allowed to make money from illegal operations.
The final forfeit order forms part of broader investigations into the Forever Diamonds and Gold group, its directors, and associated entities.
Forever Diamonds and Gold group investigation
The Liebenbergs and their associates, including Kleynhans, Badenhorst, Schulenburg, Strydom, van Heerden and Niedinger, are expected to appear before the Bronkhorstspruit Magistrate’s Court.
Their court date is set for 25 November 2025.
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The couple will remain in custody, while their seven co-accused are currently out on bail.
“The NPA’s Asset Forfeiture Unit will relentlessly pursue all legal avenues to strip criminals of their illicit gains, ensuring that assets derived from unlawful activities are forfeited to the state and redirected to strengthen the fight against crime,” Mahanjana said.
Liebenberg’s court rant
Last month, the Bronkhorstspruit Magistrate’s Court referred the notorious diamond dealer for evaluation during his bail application. This followed a heated debate with the magistrate and various accusations.
His rant included comments on bullying, prison abuse, white bread for his gout, and the Bible. He also made accusations against the magistrate, the court, and even the minister of correctional services.
Liebenberg accused the magistrate of being biased and of enjoying the media attention on the case.
