Investors who entrusted their money to Breedt approached the Eastern Cape High Court in Port Elizabeth for a relief order after numerous promises by Breedt over the past seven months to have their money paid out were allegedly not kept.
Gordon Kayser of GTA Kayser Attorneys in Pretoria acted on behalf of 300 of the 2 000-plus investors in Breedt's scheme.
After numerous attempts by various investors to convince Breedt, who in January closed his offices in Krugersdorp and then fled to Jeffreys Bay, to pay out their capital failed, an urgent anti-dissipation order was filed against Breedt.
Kayser said an investor who had lost around R7.5 million after investing it with Breedt, and who earlier also applied for an interdict against Breedt, had joined the legal action.
His court order was also granted to have further bank accounts belonging to Breedt and VS frozen.