Alleged Ponzi scheme kingpin Louis Liebenberg’s protracted bid for bail has hit another snag, with his attorneys again withdrawing from the matter and the disgraced diamond dealer now planning to call 55 witnesses to give evidence in his application, reports News24.

Liebenberg appeared in the Bronkhorstspruit Magistrate’s Court alongside his eight co-accused – including his wife, Dezi – yesterday.

The court heard that Liebenberg’s attorney – who cannot be named in terms of a court order – was withdrawing for the time being but that the bail application could continue in August.

‘My instruction is that I must withdraw at the end of this sitting,’ he said.

After the court appearance, the attorney told journalists that the withdrawal was because of a lack of funds, and that Liebenberg was trying to secure more money.

Liebenberg’s bail application began in November 2024, with him representing himself following his first attorney’s withdrawal.

At another appearance, Liebenberg said he wanted to get another attorney to continue with the bail application.

During yesterday’s proceedings, he said: ‘I know, I know the next thing you are going to say is that I want to conduct my own trial during the bail application, but that is not the fact.'

'The fact is that the liquidators have seized all our assets and that is totally unconstitutional … (I need) to try and show to the court that the merits of this specific case is not warranted and that the state’s case is weak. So, I have to call financial statements, the accountants, and people at the mine,’ he continued.

Liebenberg added that to secure the witnesses and prepare, he would also need access to data on his cellphone, which was in the state’s possession.

Liebenberg and his co-accused allegedly convinced thousands of people to hand over more than R4bn for investments in the diamond industry, according to News24.

Two companies linked to Liebenberg and his company, Tariomix, were the vehicles for the alleged scams, trading as Forever Diamonds and Gold and Forever Zircon.

According to a forensic report by PricewaterhouseCoopers, investor funds meant for the purchase of diamond parcels, as advertised by Liebenberg, were instead transferred to other bank accounts belonging to companies linked to the accused and individuals not referred to as joint venture partners.

Liebenberg has been charged with theft, corruption, money laundering and racketeering.

The bail application will resume in August and the main case, in November.

Full News24 report