The bail application of diamond dealer Louis Liebenberg is ongoing at the Bronkhorstspruit Magistrate’s Court in Pretoria.multiple charges including fraud, racketeering, and theft.
The charges stem from an alleged investment scam in which investors were reportedly defrauded of over R4 billion through investments in Liebenberg’s companies. During the hearing, Liebenberg defended his business operations, claiming they provided significant employment and sought to redistribute wealth.
“What I’ve done and what we’ve done as a group, was to create a solution to the problem, that’s never going to get away in South Africa. And that is the access to the mineral wealth that the ordinary person needs desperately. What we see is a repetition of the formula and the formula goes ‘I’m an Oppenheimer…,’” he stated.
Liebenberg further commented, “I’ve been working for generations on the mines in South Africa because at one stage my people came from England or Europe and came and took the mineral wealth.”
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