Former Proteas All-Rounder Sued for Millions Over Alleged Ponzi Scheme

• Former Proteas star Albie Morkel is reportedly being sued for millions over profits from a suspected Ponzi scheme
• The scheme allegedly involved fictitious property investments and defrauded dozens of investors
• Authorities have taken legal action against the operator, with criminal charges filed and assets under scrutiny

Former South African cricket star Albie Morkel is facing legal action after being sued for R3.3 million by the liquidators of companies allegedly operating a Ponzi scheme in South Africa, according to News24.

Morkel invested R350,000 in IPG Main Sales, one of two companies run by Pretoria businessman Nico le Roux. Court papers state that he received 10 payments totalling R3.6 million. The liquidators are now seeking to recover R3.3 million, which represents the profits above his initial investment.

News24 reports that Morkel also allegedly received R75,000 from IPG Properties without making any investment. Insolvency attorneys sent him two letters of demand in February, giving him three days to return the money or face legal action.

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Alleged Ponzi scheme left investors devastated

According to MyBroadband, IPG Main Sales and IPG Properties were presented as property investment opportunities. A forensic audit found the properties were fictitious, with new investor funds used to pay earlier investors, a hallmark of a Ponzi scheme. In total, 54 investors contributed approximately R74.6 million.

Le Roux, reportedly by The Rapport, recruited investors through religious networks and church camps, promising returns of up to 30 per cent within three months. Messages on WhatsApp and false lawyer communications were also allegedly used to reassure investors. One investor, Rob McGimpsey, told Netwerk24 he lost his entire savings, leaving him to live in a caravan in Upington after a previous Ponzi collapse.

Morkel expected to defend himself

The High Court in Pretoria granted a final sequestration order against Le Roux in June 2025. He allegedly owes the companies over R5.1 million, despite presenting himself as a successful property businessman. MyBroadband also reported that Le Roux has a previous fraud conviction from 2004 and is facing criminal charges related to the IPG scheme.

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So far, liquidators have only reached settlements with five of the 54 investors. Morkel is expected to file a defence but has not made any public comment on the lawsuit.

Morkel shared the field with cricket stars like Jacques Kallis, who has a rich networth, AB De Villiers, and Dale Steyn, who recently became a first-time father. He was part of the squad in the 2000s and early 2010s, mainly as a seam-bowling all-rounder.

He made his ODI cricket debut in 2004; his Test debut in 2006. Having internationally represented South Africa in Tests, ODIs, and T20S between 2004 and 2012. Domestically, he played for the Titans, Dolphins, Kolkata Knight Riders (IPL), and Chennai Super Kings (IPL).

Natalie du Toit faces SARS action

Briefly News previously reported that South African Paralympic legend Natalie du Toit found herself in the spotlight for reasons outside the swimming pool.

In January 2026, reports revealed that the decorated athlete was facing a formal demand from the South African Revenue Service (SARS) for more than R1 million in unpaid taxes.

Source: Briefly News