Moganberry Govender (70) has heard that the trial of the two who had allegedly defrauded him will finally proceed. A Daily News report says Govender was one of hundreds of investors who lost their money to a Ponzi scheme allegedly run by Mervyn Dennis and his sister Mary-Anne Peter more than 15 years ago.

The two accused appeared in the Pinetown Magistrate’s Court last week, charged with 2 500 counts of fraud in an alleged Ponzi scheme. The pair convinced pensioners to invest their money with promises of good returns on the stock exchange.

Magistrate Simphiwe Hlophe ruled that the court would no longer accept delays in the case, which has been on the roll for nine years. Hlophe granted an application by the defence to have the case adjourned to get certain documents on condition that the trial proceeds on 20 May. He was, however, not happy with the adjournments, saying the complainants had waited 15 years for justice.

Dennis and Peter changed legal representatives several times over the years, being given time to look at the documents each time their representation changed. They are now represented by attorney Riana Naidoo.

‘It’s a serious and complex case and, yes, the defence needs enough time to prepare, but nine years of delays is not necessary. Whether you have attorneys or not, we will proceed (on 20 May),’ Hlophe told Dennis and Peter.

Full Daily News report