The court case against nine people who allegedly swindled investors out of approximately R4.5-billion has been postponed to October 31.

The group allegedly convinced investors to make payments to a scheme and promised high returns.

The multi-billion investments were later allegedly used to purchase two mines and various motor vehicles as well as pay for a lavish wedding and honeymoon in Greece.

The group appeared in the Bronkhospruit Magistrate’s Court on October 24 to face 42 counts of fraud, five of racketeering, six of money laundering and various other statutory offences, including contraventions of the Companies Act.

The accused are: Louis Petrus Liebenberg (60), his wife Desiree Liebenberg (50), Magdelena Petronella Kleynhans (54), Johannes Petrus Badenhorst (41), Helena Dorothea Amy Schulenburg (59), Adriaan Dewald Strydom (35), Christelle Badenhorst (42), Nicolize van Heerden (58) and Walter Niendinger (55).

National Prosecuting Authority spokesperson Lumka Mahanjana said more charges could still be added.

It is alleged that Louis Liebenberg registered 15 companies on which his ex-girlfriend Kleynhans and the rest of the accused, either ralatives or relations, were directors.

Mahanjana said Louis and Kleynhans registered companies Tariomix in 2020 and Forever Zircon in 2021“both purportedly involved in buying and selling diamonds”.

“Potential investors were lured through social media and radio interviews to invest in the buying and selling of diamonds and were also promised high returns over a short period of time using a cashless platform called AE Switch.”

Mahanjna said thousands of investors made payments amounting to approximately R4.5-billion, which the accused used to purchase assets.

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“Assets include two mines, various motor vehicles such as a Ford bakkie, BMW 230i Sport and Toyota Agya, Krugerrand and silver coins.”

Liebenberg allegedly used some of the funds to pay for a lavish wedding and honeymoon in Greece.

Mahanjana said immovable property, including an office block, was purchased.

She said when some investors did not receive the promised payments, they suspected they were defrauded so reported the matter to the SAPS .

“The investigation is conducted by the Directorate for Priority Crime Investigation (DPCI), together with the Financial Intelligence Centre (FIC), Asset Forfeiture Unit (AFU), Price Waterhouse Coopers (PWC) and the NPA’s organised crime unit.

The multi-agency approach to the prosecutor-guided investigations yielded the important breakthrough in this syndicated commercial crime,” said Mahanjana.

Mahanjana said the state did not oppose bail in respect of Kleynhans, Schulenburg and Niedinger.

“Kleynhans and Schulenburg were released on R20 000 and Niedinger on R100 000 on condition that they surrender their passports to the investigating officer.”

She said this case illustrated what could be achieved when stakeholders fight organised crime together.

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