Johannesburg -

Alleged Ponzi scheme recruiter Dean Rees has been ordered by the high court in Johannesburg to repay R158.9 million, the Sunday Times reported.

On Friday, Judge Boissie Mbha ruled that Rees repay the money to the trustees of the estate of Barry Tannenbaum - who ran a Ponzi scheme that swindled approximately 800 investors.

Rees - who was Tannenbaum's lawyer during the time the Ponzi scheme was running - has denied involvement.

However Mbha found that Rees was an integral part of the operations.

“(The evidence) proves beyond any doubt that Rees knew he was robbing Peter to pay Paul and himself.

I am satisfied that he knew he was running a Ponzi scheme to defraud the investors,” the judge said.

According to the Sunday Times, Tannenbaum is believed to be near Runaway Bay in Australia working at an insurance company; while Rees has lived in Switzerland since 2009.

The NPA has issued warrants of arrest, but the pair have never been extradited. - Sapa