Businessman Brendon Naidoo was released on R60,000 bail in the Alexandra Magistrates court on Tuesday.

Brendon, the boyfriend of DJ Zinhle, appeared on fraud charges, which he allegedly committed through his forex trading business in which several people invested their pension monies in.

Some of these opened fraud cases against Naidoo after he allegedly failed to pay them back their profits.

The state was expected to oppose Naidoo' bail application with the investigating officer reading out the contents of the docket ,but this was not the case as prosecutor Jimmy Shongwe immediately asked for a R100,000 bail.

Naidoo's defence counsel asked for a lesser amount R50,000 which he said was immediately available should his client be given bail.

Instead, Magistrate Rainer Boshoff granted Naidoo R60,000 bail with conditions that he must report to Sandton Police Station twice a week on Mondays and Fridays.

The case was postponed until May 5 for further investigation.

Naidoo was arrested earlier this month.

Despite the storm that has erupted over Brendon's arrest, DJ Zinhle has remained silent on the matter.