This will be Burger’s second court appearance, after his case was postponed in the Bloemfontein Magistrate's Court on 18 November.

He was granted R5000 bail.

Hawks Free State spokesperson, Christopher Singo, says he was arrested on allegations of fraud and money laundering.

Burger reportedly pretended to be the co-owner of FinAfrica Loans in Bloemfontein.

He is said to have approached his victims by presenting an investment opportunity, whereby high interest rates were promised if the victims invested their money in FinAfrica Loans.

An amount of R1 500 000 was invested.

After a few months the victims received their promised interest, but subsequently these monthly payments were reduced and later stopped.

The victims then sought a legal representative, after which it was discovered that the accused was not employed at FinAfrica Loans anymore.

It appears their money was never invested at FinAfrica Loans.

"The matter was then reported to the Hawks’ Serious Commercial Crime Investigation team based in Bloemfontein for further investigation, which culminated to the suspect handing himself over to investigators, after which he was charged," says Singo.

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