Alleged Ponzi scheme recruiter Dean Rees has been ordered by the high court in Johannesburg to repay R158,9 million, according to a report.
The Sunday Times newspaper reported that on Friday, Judge Boissie Mbha ruled that Rees repay the money to the trustees of the estate of Barry Tannenbaum -- who ran a Ponzi scheme that swindled approximately 800 investors.
Rees -- who was Tannenbaum's lawyer during the time the Ponzi scheme was running -- has denied involvement. However Mbha found that Rees was an integral part of the operations.
"[The evidence] proves beyond any doubt that Rees knew he was robbing Peter to pay Paul and himself. I am satisfied that he knew he was runnning a Ponzi scheme to defraud the investors," the judge said.
According to the Sunday Times, Tannenbaum is believed to be near Runaway Bay in Australia working at an insurance company; while Rees has lived in Switzerland since 2009.
The NPA has issued warrants of arrest, but the pair have never been extradited.
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