Johannesburg businessman Zunaid Moti appeared in the Brits Regional Court on Tuesday on charges of armed robbery and conspiracy to commit murder, said North West police.
He was granted bail of R40,000 said Brigadier Thulani Ngubane.
Moti’s co-accused Carlos de Sousa, who appeared on charges of assault, armed robbery and kidnapping, was released on bail of R30,000, he said.
The case was postponed until July 20, and Moti and De Sousa were instructed to not contact State witnesses.
Ngubane said police hoped to make further arrests as the investigation was ongoing.
Moti handed himself in at the Hartbeespoort police station on Tuesday morning. De Sousa was arrested in Johannesburg on Saturday.
In a statement made after a warrant for his arrest was issued last week, Moti vowed to clear his name.
“The warrant pertains to non-business related matters and Mr Moti and his lawyer, Mr Ian Small-Smith, are currently working with the relevant authorities to clear Mr Moti of all charges,” his lawyers said in the statement.
“Mr Moti is due to appear in court next week to clear his name and a further statement will be issued in due course,” they said
The 37-year-old businessman is the owner of the luxury vehicle dealership, Future Exotics Lifestyle Emporium.
He is also the chairman of property group Abalengani.