Durban - A Chatsworth man who allegedly defrauded seven people for more than half a million rand made a brief appearance in the Durban Magistrate's Court.
Sugen Naicker, 36, remains in police custody since his arrest in April this year.
It is alleged that Naicker had conned seven people known to him promising to invest their money which would yield high returns.
Two of the victims were allegedly in school with Naicker while another woman lived down his road.
It is alleged that Naicker purported to be a regional sales manager for Wesbank and promised a victim that he could purchase repossessed vehicles and sell them at a profit, which he would give to the victims.
He faces seven counts of fraud with the total value estimate at R594 000.
State Prosecutor Kuveshnie Pillay opposed bail.
A pre-trial has been set for July 31.
During his arrest Naicker had said in his warning statement that he intended paying the victims back.