Stephanus Johannes Janse Van Rensburg was arrested on Monday for allegedly defrauding his client Esther Freesia Adendorff.
Adendorff made 15 payments between 2008 and 2011, totalling R1 874 370, to Van Rensburg.
When Adendorff s son Ralph requested documents relating to the policies his mother had paid for, Van Rensburg failed to provide the requested documents.
A Port Elizabeth financial broker, Stephanus Johannes Janse Van Rensburg made a brief appearance in court on charges of fraud after he allegedly sold nine non-existing Old Mutual and Momentum second-hand policies worth R1.8 million to a client.
He appeared in the Port Elizabeth Commercial Crimes Court on Monday after he was arrested by the Hawks earlier on the day.