Fraud and Illicit Diamond Trading Case Against Mervyn Casterns and Seven Others Delayed

Johannesburg – The Palm Ridge Specialized Commercial Crime Court has deferred the fraud and illegal diamond trading case involving Mervyn Casterns and seven others.

Mervyn Casterns, the CEO of the Alexkor RMC Pooling and Sharing Joint Venture (PSJV), along with Daniel Nathan, his company Alexander Bay Diamond Company (Pty) Ltd, Kubentheran Moodley, Martha Rapetsoa, Roslyn Crossingham, Raygen Phillips, and Zarina Prasadh, are facing allegations of fraud and breaches of the Diamonds Act.

The charges stem from two diamond marketing tenders awarded to SSI in 2015 and 2016, which granted SSI exclusive rights to market and sell all diamonds produced by the PSJV—a joint venture between Alexkor SOC and the Richtersveld Community.

It is alleged that SSI acquired all unpolished diamonds produced by the PSJV and subsequently sold them on behalf of the PSJV.

Claims suggest that various individuals and associated entities, through the marketing tenders, obtained unpolished diamonds from sales carried out by SSI for the PSJV over a span of more than five years.

The investigation into Alexkor led by the Investigating Directorate against Corruption (IDAC) emerged from findings by the Commission of Inquiry into allegations of State Capture, Corruption, and Fraud within the Public Sector, including state entities.

All the accused attended court on Thursday, 21 August 2025.

IDAC spokesperson Henry Mamothame indicated: “Three of the defendants, Daniel Nathan, Martha Rapetsoa, and Kubentheran Moodley, have shown an intention to request a modification of their bail conditions.”

The bail hearings are set for 9 September 2025.

Meanwhile, Zarina Prasadh (formerly Kellerman) was arrested on Monday, 18 August 2025, and appeared before the Palm Ridge Specialized Commercial Crime Court.

The State opposed bail.

After deliberation, bail was established at R50,000, subject to strict conditions.

Prasadh was expected to appear alongside the other accused on Thursday, 21 August 2025; however, her attorney informed the court that she had been hospitalized.

“A warrant for her arrest was issued, but its enforcement has been stayed until 4 September 2025, when she is anticipated to appear before the court,” explained Mamothame.