South Africa’s diamond underworld just got a little less sparkly with the recent arrest of Louis Liebenberg. Liebenberg previously helped bankroll former president Jacob Zuma’s courtroom battles, but is now himself facing fraud and money laundering charges. 

Known for his flashy lifestyle and even flashier promises, Liebenberg was arrested along with his wife, Dezzi, at the Benoni Country Club by the Hawks on Tuesday. And while he’s caught the attention of authorities, it’s the R4 billion he allegedly swindled from investors that’s caught everyone else’s.

For those unfamiliar, Liebenberg’s diamond enterprise, Tariomix (which trades under the far shinier name “Forever Diamonds and Gold”), has been the focus of investigations since 2020. Advertised as a diamond investment opportunity, it’s alleged that Liebenberg’s business was more Ponzi scheme than polished gem, taking money from investors with the lure of big returns that never quite materialised. Instead, it’s claimed investors saw their hopes for diamond-backed wealth vanish into thin air—and possibly into Liebenberg’s legal fund for Jacob Zuma.

Yes, you read that right. Liebenberg reportedly syphoned off millions to help Zuma pay for various legal escapades, including private prosecutions and lawsuits against state prosecutor Billy Downer and journalist Karyn Maughan. 

Liebenberg appeared in Bronkhorstspruit Magistrate’s Court this Thursday, facing charges of fraud, money laundering and racketeering. Despite the hefty charge list, Liebenberg seemed unfazed, telling the press, “Life is good. Thanks to the media for making me famous,” before waving to the crowd in the courtroom.

The Hawks, who led the arrests, revealed that Liebenberg’s alleged scheme has been in operation since 2019, targeting diamond investors with the promise of high returns. Hawks spokesperson Colonel Philani Nkwalase stated that more arrests are anticipated, as the investigation extends beyond Gauteng and the North West. Though they didn’t name Liebenberg specifically, Hawks spokesperson Thandi Mbambo did note that “the suspects include a couple wherein the husband is alleged to be the mastermind behind the scam, along with his wife”— meaning the Liebenbergs could be the Bonnie and Clyde of South Africa’s diamond investment scene.

But it was more than mere allegations of fraud that kept Liebenberg in the spotlight. Liebenberg is also being investigated by the Human Rights Commission for alleged racist remarks.

In a particularly audacious attempt at reinvention, Liebenberg even made a brief run as an independent political candidate in the national election this past June. His campaign only netted him 1,422 votes — an underwhelming turnout that left him out of Parliament and, well, a few rands poorer for the effort.

With bail applications still pending for some of his co-accused, Liebenberg and Dezzi are set to remain behind bars, at least for now. And while he may not have secured a seat in Parliament, it looks like he’s found himself a new audience in court.