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Ponzi pastor accomplice due in court for alleged R330m fraud

Derek Bredekamp and the so-called Ponzi pastor Colin Davids allegedly swindled about 2,000 investors by offering them unrealistic returns on their funds.

Colin Davids pictured in 2010. Picture: Facebook.

CAPE TOWN - An accomplice of the so-called ponzi pastor Colin Davids has appeared in court for alleged fraud involving R330 million.

Hawks members arrested Derek Bredekamp on Monday and he's appeared in the Bellville Specialised Commercial Crimes Court for his alleged role in Platinum Forex Trading Group.

Davids, who's the sole director of the alleged ponzi scheme, has been out on bail since his arrest in 2016.

He allegedly swindled about 2,000 investors by offering them unrealistic returns on their funds.

The Hawks’ Philani Nkwalase said: “It’s alleged Bredekamp, who was working as the marketing manager of the company, colluded with the sole director of that company, Davids, and they defrauded various investors through the entity.”

Bredekamp has been granted bail of R15,000 and is expected back in court next month alongside Davids.