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Alleged diamond dealer, Louis Liebenberg.
The bail application of alleged diamond dealer, Louis Liebenberg, will resume at the Bronkhorstspruit Magistrate’s Court this morning.
Liebenberg, his wife Desiree and seven others face multiple charges including fraud, racketeering and theft.
The case relates to an alleged R4 billion investment scam.
It’s alleged Liebenberg used social media and radio interviews to lure unsuspecting victims to invest in a so-called diamond trading scheme.
Investigations later revealed that the funds amassed from the scheme were used to register companies with directors, purchase two mines and fund the Liebenbergs’ lifestyle.
Liebenberg, who remains in custody, once requested to be moved from the Kgosi Mampuru Correctional Facility to allow for privacy during consultations with his lawyers.
The seven other accused are already out on bail.
VIDEO | Diamond Investment Scam – Louis Liebenberg’s political life:
