Fraud charges against father & son are withdrawn
Father and son walk free as investigations into an alleged R31.5m investment scam continue.
Charges of fraud against Gerhard Wilhelm Liebenberg and Christiaan Jacobus Liebenberg were provisionally withdrawn in the Newcastle Regional Court last month.
Legal proceedings against the father-and-son duo were paused on July 27, pending further investigation into the matter.
Christiaan was subsequently released from custody after spending a year behind bars, while Gerhard (whose health has been steadily deteriorating, according to his legal aid attorney Naveen Bhoodram) was released on bail in January.
The Liebenbergs were arrested in August last year in connection with a R31.5m investment scam and made their first appearance in the Newcastle District Court on August 14, 2025.
Liebenbergs arrested following investigation
In a press statement issued by SAPS at the time, spokesperson Lizzy Arumugam said the Liebenbergs were arrested in the Gauteng area by the Johannesburg K9 Unit and the DPC (Directorate for Priority Crime) Tracing Team, following a significant breakthrough in a complex investigation led by Warrant Office Henning de Meyer, under the command of Lieutenant Colonel JJ Oberholzer.
“The suspects allegedly lured their victims with promises of lucrative returns through Bitcoin and cryptocurrency investments. They convinced the victims to deposit substantial sums into designated bank accounts, under the impression that they were purchasing Bitcoin. After multiple payments, the victims received no returns and the suspects ceased communication when demands for refunds were made,” Arumugam explained.
“Financial records revealed deposits traced to the suspects’ accounts across three banks.”
In a statement released on January 6 by Royal Investigations, lead private investigator John Alexander stated that the Liebenbergs’ arrests stemmed from an extensive investigation into a series of investment-related fraud and scam operations conducted under various entities, including Delos Management and Villion Trading.
“Our investigation established that these schemes were advertised primarily via Facebook, where the suspects unlawfully utilised the names and images of well-known public figures – including Elon Musk, Dr Corné Mulder and Mr Johann Rupert – to lend false credibility to the fraudulent investments,” said Alexander.
“During the course of the investigation, 45 victims were positively identified, with confirmed financial losses amounting to R31,543,114 incurred between 2022 and 2024. The investigation reveals that this was a highly sophisticated and organised scam, which deliberately targeted elderly and vulnerable individuals.”
Alexander further indicated that three additional suspects were being investigated in connection with the scam.
Financial regulator had warned against entities
The Financial Sector Conduct Authority (FSCA) issued a warning against Delos Management on October 25, 2023, advising the public to act with caution when conducting financial-services-related-business with the company.
“The FSCA received information that Delos Management offered to trade in forex on behalf of members of the public. Without commenting on the business of Delos Management, the FSCA points out that entities offering to trade in financial products on behalf of South African citizens are required to be authorised by the FSCA. Delos Management is not authorised by the FSCA.
“The FSCA contacted Delos Management, however it declined to respond,” reads the statement issued by the FSCA, which is still available on its website.
The FSCA further issued a similar warning against Villion Trade/Trading, also referred to as ‘the people’s broker’, the following year on October 21, 2024, advising the public to act with caution if they intended to conduct financial services business with this company.
“It has come to the attention of the FSCA that Villion Trade may be providing financial services to members of the public without being authorised to do so. The FSCA is not communicating any findings against Villion Trade, but it points out that Villion Trade is not authorised in terms of any financial sector law to provide financial products or render financial services.
The FSCA endeavoured to contact Villion Trade, but it has not responded.
The FSCA was unable to connect to Villion through the telephone numbers provided on its website,” stated the FSCA.
“The FSCA has found no evidence to indicate that the actual licensed FSP (Villion Brokers (Pty) Ltd-FSP No 52538) is in any manner connected to the activities of Villion Trade. It seems likely that Villion Brokers has been impersonated, a practice that is frequently used by fraudsters.
Villion Brokers does not provide financial services with reference to crypto assets. They conduct funeral business. The public is also warned that the advertisement featuring a Mrs Viljoen was not mandated or issued by Villion Brokers.”
Members of the public can check whether an entity or person is suitably authorised before any purchase or investment is made, via one of the following FSCA channels:
- Toll-free number: 0800 110 443
- Online search for authorised financial institution by licence category: https://www.fsca.co.za/Regulated%20Entities/Pages/List-Regulated-Entities-Persons.aspx
- Online search for a financial institution that is an authorised FSP in terms of the FAIS Act: https://www.fsca.co.za/Fais/Search_FSP.htm
Christiaan Liebenberg declined to comment when approached by the Northern Natal News.
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