The wife of alleged diamond pyramid scheme mastermind Louis Liebenberg was denied bail in the Bronkhorstspruit Magistrates Court yesterday.
Desiree Liebenberg, 50, asked for bail, claiming she was only involved in her husband's companies at a later stage.
The Liebenberg couple and their seven co-accused allegedly lured potential investors through social media and radio interviews to invest in the buying and selling of diamonds, promising high returns over a short period of time.
NPA spokesperson Lumka Mahanjana says the state said she was a flight risk as she could access the R200 million her husband claims to have hidden from the state.
She says thousands of investors made payments to the platform of approximately R4.5 billion.
Louis Liebenberg, 60, allegedly registered 15 companies with his ex-girlfriend, and the rest of the accused were either family members or had close relations.
The accused utilised the proceeds of the diamond investment scheme to purchase movable and immovable assets, including two mines and various motor vehicles, with a Ford Bakkie, BMW 230i sport, Toyota Agya, Kruger rands and silver coins and spending it on Liebenberg’s lavish wedding and honeymoon in Greece.
Louise Liebenberg will be in court on Monday for his bail hearing to continue, while his co-accused's case was postponed to February 4, 2025.
They are all facing charges of 42 counts of fraud (alternatively theft), five counts of racketeering, six counts of money laundering, theft, and various statutory offences, including contraventions of the Companies Act.
