By Masechaba Sefularo.
The Bronkhorstpruit Magistrate’s Court has postponed bail proceedings for Diamond dealer Louis Liebenberg wife, Desiree to 21 November.
Louis and Desiree were arrested by the Hawks last month on multiple charges of fraud, money laundering, theft and racketeering in a broader investigation into a diamond investment scam of more than R4 billion.
The duo are only two suspects still in custody after the Bronkhorstspruit Magistrates Court granted bail to the other seven co-accused.
During the proceedings on Friday, the investigating officer read a statement in court supporting the state’s opposition to the couple’s bail application.
The court heard Desiree Liebenberg could be a flight risk and use alleged hidden assets to undermine the judicial process.
The state has referred to videos in which Louis Liebenberg tells his social media followers that he has hidden R200 million from liquidators and “corrupt government officials”, further adding that he could only trust his wife.
The state has argued that the 50-year-old may know where the money and other assets were hidden by her husband and could use this information to evade trial.
It also emerged in court that a non-profit organisation ‘Louis Cares Foundation’ was registered last Thursday to raise legal fees and bail money for the accused.
The prosecution contended that, seeing as the funds would not come from her own pocket, Liebenberg would have no qualms about forfeiting the bail money.
Liebenberg reportedly reached out to his backers and business associates for financial support ahead of his bail on Friday.
A report claims Louis Liebenberg was confident his network of supporters would see him through the financial implications of his legal battle.
Liebenberg’s accounts were frozen by authorities, and, according to the publication, he called on his joint venture partners, including the Jacob Zuma Foundation, to save the business.
The businessman reportedly asked for a R5,000 “sponsorship” from each of his backers to fund legal costs and bail.
Liebenberg opted to pause his bail bid on Friday, adding that he didn’t want to delay his wife’s chance of being released. The businessman said he expected his opposed bail application, as the alleged mastermind of the elaborate scam, would be lengthy.
The group is charged with over 50 counts linked to an alleged diamond investment scam that saw thousands of unsuspecting investors lose over R4 billion in 2019.
The other seven accused were granted bail of between R5,000 and R100,000 last month.
The main matter for all nine accused returns to court in February next year.
In her bail affidavit, Liebenberg said she intended to stand trial and would plead not guilty to all the charges against her.