Bail Grant Postponed for Husband Louis Liebenberg and 7 Others in Billion Rand Diamond Scheme

On November 1, 2024By Karl

Alleged multi-rand diamond investment scheme mastermind Louis Liebenberg appeared in court for the second time
While the case of Liebenberg and his wife Desiree was postponed due to a bail application, the other four defendants were released.
The Liebenberg family and seven other suspects with close ties face a laundry list

Bail postponed for Louis Liebenberg, accused of 7 billion rand diamond fraud — Fraud and blackmail defendant Louis Liebenberg and his wife Desiree will return to court on November 15 for a formal bail application. Image: @JacaNews
Source: Twitter

TSHWANE — Bronkhorstspruit Magistrate’s Office Court On Thursday, October 31, 2024, he released on bail the alleged mastermind Louis Liebenberg, as well as four others linked to the multi-billion-rand diamond fraud scheme.

He and eight people, including his wife Desiree, face laundry charges, including 42 counts of fraud, six counts of money laundering, five counts of racketeering and theft.

Diamond fraud suspect’s release on bail postponed

The first three of the nine defendants were released on bail at the first hearing on October 23.

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Other defendants with close ties are Christelle Badenhorst, 42; Johannes Badenhorst, 41; Magdelena Kleynhans, 54; Walter Niendinger, 55; Helena Schulenburg, 59; Adrian Strydom, 35; and Nicolize van Heerden, 58.

Following his arrest on October 22, Liebenberg, the alleged diamond investment scheme mastermind, waived bail.

However, the court granted conditional release to Kleynhans, WiNiendinger and Schulenburg. Four more people, Christelle and Petrus Badenhorst, van Heerden and Strydom, have since been released on R45 000 bail.

court postpones formal bail hearing until November 15 for the remaining two defendants, 60-year-old Liebenberg and his wife.

He faces two more money laundering charges, while Desiree, 50, also faces a corruption charge. More will probably be added later.

Liebenberg is alleged to have registered 15 companies in which Kleynhans, with whom he had a romantic relationship, and other defendants were directors.

Liebenberg and Kleynhans registered a Tariomix-style company in 2020, and a year later, in 2021, they registered Forever Zircon, allegedly to buy and sell diamonds. fund a lavish lifestyle.

Big money diamond investors were deceived

Gauteng National Prosecuting Authority (NPA) regional Spokesperson Lumka Mahanjana He said potential investors were attracted through social media and radio.

“(Investors) were promised a (lucrative) return on their investment using a cashless platform called AE Switch within a short period of time,” he said.

“Thousands of people made payments amounting to around Rs 4.5 billion. Some became suspicious when they did not receive the promised payments and reported the matter to the police, thinking they had been defrauded.”

An investigation by the Priority Crime Investigation Directorate (Hawks), the Financial Intelligence Center (FIC), the Asset Forfeiture Unit (AFU), Price Waterhouse Coopers (PwC) and the NPA’s Organized Crime Unit uncovered the detailed plan.

Following the Liebenbergs’ expected appearance on November 15, the case against the nine men was postponed until February 4, 2025 for further investigation.

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