Former South Africa all-rounder Albie Morkel has reportedly been sued for R3.3 million by the liquidators of companies linked to an alleged Ponzi scheme in South Africa.
According to MyBroadband, citing Rapport, Morkel invested R350,000 in IPG Main Sales, one of two companies allegedly run by Pretoria businessman Nico le Roux as part of the scheme. Court papers reportedly state that Morkel later received 10 payments totalling R3.6 million, prompting liquidators to pursue him for R3.3 million — the difference between what he received and what he originally invested.
The report adds that Morkel also allegedly received a separate R75,000 payment from IPG Properties, despite not having invested any money in that company.
According to MyBroadband, insolvency attorneys sent two letters of demand to Morkel on 9 February, giving him three days to repay the money or face legal action. One of those letters reportedly stated that IPG had been insolvent from the first investment and remained insolvent throughout, with liabilities exceeding assets the entire time.
A summons was then issued after the High Court in Pretoria allowed it to be served electronically, and Morkel is expected to defend the claim.
Liquidators targeting investors who profited
The liquidators are reportedly pursuing investors who profited from the scheme and declined to voluntarily repay those gains. They are also involved in a separate application to have IPG Main Sales and IPG Properties formally declared a Ponzi scheme by the High Court in Pretoria.
According to the court papers referenced by MyBroadband, 54 investors paid around R74.6 million into the two companies.
Le Roux allegedly presented the businesses as legitimate property investment vehicles. However, a forensic audit reportedly found that the properties investors believed they were buying did not in fact exist. Instead, the liquidators argue, money from newer investors was used to pay returns to earlier ones — the classic hallmark of a Ponzi scheme.
Le Roux is also alleged to have recruited investors through religious networks, promising returns of as much as 30% within three months. Investors were reportedly brought in through word of mouth, WhatsApp groups, and presentations at church camps linked to Sonship Camps and Conferences NPO, Le Roux’s non-profit organisation.
One investor, Rob McGimpsey, told Netwerk24 that he trusted Le Roux because he presented himself as a religious man who organised church camps and preached regularly. McGimpsey said he invested his remaining savings, withdrawn from a Sanlam retirement fund, and lost everything when the scheme collapsed.
Le Roux sequestrated
The High Court in Pretoria granted a final sequestration order against Le Roux on 20 June 2025, confirming a provisional order. According to MyBroadband, the court found that Le Roux had committed acts of insolvency and that his estate should fall under the supervision of the Master.
Liquidators further allege that Le Roux transferred R3.6 million into his personal bank account from various sources, including the two IPG companies, and that he owes those companies more than R5.1 million in total.
Despite presenting himself as a successful property investor, liquidators say Le Roux owns no immovable property and has no personal investments. Rapport also reported that Le Roux has a previous fraud conviction dating back to 2004, when the Vereeniging Magistrate’s Court found him guilty on five counts and handed him a three-year suspended sentence.
Criminal charges relating to the IPG scheme have also reportedly been filed against him.
Morkel’s cricket career and IPL earnings
Morkel, now 43, played for the Proteas from 2004 to 2015, establishing himself as a powerful lower-order hitter and useful seam-bowling all-rounder in both ODI and T20 cricket.
He also enjoyed a lengthy and lucrative career in the Indian Premier League, where he represented franchises including Chennai Super Kings, Royal Challengers Bangalore and Delhi Daredevils. Across his IPL career, Morkel earned an estimated ₹19.63 crore, which at current exchange rates works out to roughly R34.8 million.
While those IPL earnings underline how financially successful his playing career was, the claim now being brought against him relates specifically to money allegedly received from the IPG investment structure, not to his cricket income.
According to MyBroadband, the liquidators have so far reached settlements with only five of the 54 investors, while the application to have the scheme formally declared a Ponzi scheme is unopposed.
Morkel is expected to file a defence, but has not commented publicly on the matter. MyBroadband reported that it was unable to reach either Morkel or Le Roux for comment.
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