Diamond dealer, Louis Liebenberg, case: 4 granted bail

JOHANNESBURG - Bail has been granted to four more accused in the case involving controversial diamond dealer and alleged fraudster, Louis Liebenberg.

Liebernberg, his wife, and seven of his employees and associates appeared in the Bronkhorstspruit Magistrates Court on Thursday.

They face charges of fraud, theft and racketeering.

The accused have been fingered in an R4 billion diamond investment scheme where thousands of investors were scammed out of their money.

Staunch Jacob Zuma supporter, Liebenberg, appeared in good spirits in the Bronkhorstspruit Magistrates court on Thursday, despite he and his wife being fingered as the masterminds behind a R4 billion diamond investment scam.

Liebenberg, his wife, Desiree, and eight of his former employees and associates were arrested last week on charges of fraud, theft and racketeering.

ALSO READ: Diamond dealer Louis Liebenberg reportedly arrested as Hawks swoop on investment scammers

The State alleges the accused swindled money from thousands of investors hoping for massive returns from a diamond investment scheme.

The scheme was run through two companies owned by Liebenberg, Tariomix and Forever Diamonds and Gold.

Towards the end of the proceedings, Liebenberg grew tired of a journalist trying to take his picture and addressed the court.

"May I ask that the journalist remove himself from my face please, they’re intimidating me and it’s unacceptable."

Liebenberg and his wife are the only two accused yet to apply for bail, with the State ready to oppose their applications.

Their bail application has been postponed to 15 November 2024. The rest of the accused will appear in court next year.