Diamond dealer Louis Liebenberg’s bail hearing postponed again

10:45 Bail application postponed

After a brief appearance in court, Liebenberg’s bail application was postponed until 25 February, when he will be in the dock alone.

The case against him and his co-accused will continue on 8 July.

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Notorious diamond dealer Louis Liebenberg was expected to continue his bail application in the Bronkhorstspruit Magitrate’s Court on Tuesday morning.

Liebenberg, his wife, Dezzi, and seven others stand trial on 42 charges of fraud, theft, racketeering, and money laundering. 

He started his application on 25 November, when he passionately defended himself, vehemently denying the charges against him.

Liebenberg argued for his release, saying he poses no flight risk and is committed to cooperating with the ongoing investigation.

The case was expected to continue three days later, on 28 November, when the prosecution would have cross-examined him. However, Liebenberg requested to address the court for 20 minutes regarding issues he failed to mention previously.

He said that he had been sick in prison and still felt ill.

“I would like to abandon my bail application at this stage. We will revisit this with the requisition to court,” he concluded.

ALSO READ: Magistrate in Liebenberg case steps down, Louis disrupts court

Watch: Liebenbergs arrive at court:

Liebenberg’s estate seized

Meanwhile, the Gauteng High Court in Pretoria placed Liebenberg’s estate under provisional sequestration on Friday after finding evidence that he owes his former company Tariomix R150 million. Most of his debt is reportedly linked to casino gambling losses.

Acting judge Khashane Manamela stated that he likely owns around R4.9 million in assets, which is nowhere near the R150 million he allegedly owes Tariomix.

R4bn diamond scam accused face the heat

The charges against the accused relate to an alleged Ponzi scheme in which diamond investors were scammed out of more than R4 billion since 2019.

The scam was operated under Tariomix, better known by its trading name Forever Diamonds and Gold (FDG).

The rest of the accused are Walter Niedinger, Liebenberg’s former lawyer; Ronelle Kleynhans, co-director of his company Tariomix; Nicky van Heerden, his personal assistant; Dewald Strydom, a former employee; Helena Schulenburg, a former office manager; and two other former directors of his companies, Hannes and Christelle Badenhorst.

All the accused, except Liebenberg and his wife, were granted bail.

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