Three suspects linked to a mammoth R300 million fraud case in the Western Cape appeared in the Vredenburg Magistrate’s Court and were granted bail. 

Benjamin Burger Lubbe, 85, Nicolaas Jacobus Latsky, 77, and Petrus Van Eeden Marais, 64, have been charged with fraud, contravention of the Financial Markets Act, and contravention of the Companies Act. 

They were each granted bail of R10,000. 

The trio was arrested by members of the Directorate for Priority Crime Investigation (known as Hawks), the Serious Commercial Crime Investigation team based in Bellville. 

The provincial spokesperson for the Hawks, Warrant Officer Zinzi Hani, confirmed the trio were arrested on Tuesday, July 29. 

“It is reported that between 2006 and 2019, the majority shareholders defrauded the minority shareholders by manipulating share prices to the loss of an estimated R300 million. 

The trio’s arrest follows an arrest that was made on May 29, 2025, of seven suspects, of whom three were lawyers, two auditors, directors, and senior officials of associated accused companies,” Hani said. 

The seven suspects are: Jacobus Francois Pienaar, 69, Andries Johannes Frederick Eigelaar, 75, Carel Johannes Hendrik Mienie, 56, Carel Johannes Daniel Eigelaar, 70, Meiring Tarrant, 55, Minette Louw, 44, and Albert Johannes Marais, 68. 

“The initial suspects were released on bail of R10,000 each, and companies on a warning with stringent conditions,” Hani said. 

This brings the total number of accused in the matter to 10.

The matter against the trio was postponed until November 21, 2025, for legal instruction and to appear alongside their seven co-accused. 

robin.francke@iol.co.za

IOL

Source link