Diamond Dealer from Ventersdorp Accused of Fraud

Fritz Stefanus Visser (51), a licensed diamond dealer, is currently facing fraud and theft charges in connection with a diamond transaction involving a diamond mine owner in Ventersdorp. The legal proceedings surrounding this case have recently taken a significant step, as the Potchefstroom Regional Court has transferred the charges to the Specialised Commercial Crimes Court in Klerksdorp. The trial is scheduled to commence on the 23rd of October, 2023. Presently, Visser is out on bail, an amount totalling R10,000.

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According to Henry Mamothame, the spokesperson for the National Prosecuting Authority (NPA), this legal action stems from an incident allegedly unfolding on the 23rd of May 2016. At that time, the complainant, involved in the diamond mining industry along with their sibling in Ventersdorp, reportedly unearthed a diamond exceeding a hundred carats in weight.

In their pursuit of suitable buyers for this substantial gemstone, the complainants received an initial offer of R42 million. However, the situation was complex when Fritz Stefanus Visser entered the picture. As a licensed diamond dealer with a history of prior transactions with the complainants, Visser informed them of an alternate offer. He claimed to have secured a prospective buyer willing to pay R50 million for the diamond, a sum higher than the initial offer. This revelation was attributed to Henry Mamothame in his capacity as the NPA spokesperson.

A sequence of interactions between the complainants and Visser followed this initial revelation. Eventually, the diamond was purportedly transported to Visser’s office in Johannesburg on the 12th of July 2016. On that very day, Visser managed to sell the diamond for a total of R38 million, subsequently receiving the payment for the transaction. A noteworthy aspect of this case is the period of time that elapsed between the sale and subsequent events. Notably, from the time of the sale in July 2016 until December 2017, when the decision was finally made to initiate legal action against Visser, he had only remitted a partial payment of R18 million to the complainants.

In light of the circumstances, the state intends to argue that Visser’s actions were premeditated. Their assertion is that he intentionally thwarted the complainants’ intention to sell the diamond to a buyer of their choice. Allegedly, this was accomplished by deceiving them with a false narrative concerning a different buyer who was willing to pay more for the precious stone. The consequences of this deception became evident when the complainants sought to refund the R18 million to Visser, only to discover that the diamond had already been sold – a realisation that signalled they had fallen victim to fraud.

Having concluded their investigations, the state is now prepared to move forward with the trial on the 23rd of October, a Monday. This development marks a significant progression in a case that centres on the alleged fraudulent activities surrounding a valuable diamond transaction.

Source: Ventersdorp diamond dealer accused of fraud

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Photo: Supplied by Potchefstroom Herald