65-Year-Old Disbarred ‘Advisor’ In Court For R100m Fraud Scheme

Jacobus Stefanus Geldenhuis (65) appeared before the Palm Ridge Specialised Commercial Crimes Court on Thursday, 04 December 2025, where he faced 21 counts of fraud and money laundering.

Geldenhuis was granted bail of R10 000, and the case was postponed to 26 January 2026 for the provision of docket copies.

Victims Allegedly Defrauded Through Fake Investment Scheme

Geldenhuis is accused of posing as a financial advisor and misleading unsuspecting victims through his company.

According to investigators, he allegedly instructed clients to deposit funds into various bank accounts under the pretence that their money would be invested in offshore markets.

However, it is alleged that none of the funds were invested, resulting in substantial financial losses for victims.

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Investigation Reveals Disbarment and Unregistered Company

During the investigation, authorities discovered that Geldenhuis had been disbarred as a financial advisor in 2009. His company was also not registered with the Financial Sector Conduct Authority (FSCA).

As a result of the alleged scheme, victims suffered losses totalling R100 million.

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