Three members of the De Beer family (who formed the now-infamous Coin-It investment scheme) were back in court last week, only to have their case postponed to July 25.

This is to allow the defence to file a further affidavit regarding their application for documents.
Malcolm de Beer (54), Patricia de Beer (53) and Samantha de Beer (31) – all of Dundee – are charged with fraud (with the alternative charge of theft) to the amount of approximately R73.6 million.

They are also charged with contravention of the Financial Advisory & Intermediary Services Act, the Banks Act, and money laundering. The trio are out on R50,000 bail.
Coin-It promised starry-eyed investors riches that would lead them on their ‘route to success’. While many who poured money into the scheme accrued riches beyond their wildest dreams, hundreds more lost their hard-earned money when the Dundee-based pyramid scheme came crashing down, leaving many distraught.

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