Former Kaizer Chiefs official: Busted for R100m fraud
Louis Tshakaone, a former public relations officer for Soweto giants Kaizer Chiefs, made an appearance at the Palm Ridge Specialised Commercial Crimes Court on Wednesday. The 74 year old made an appearance alongside his wife Suzan Tshakoane, 59, and Louis Tshakoane Jr, 34. ALSO READ: Two KEY positions for Kaizer Chiefs to improve right now The […]
Louis Tshakaone, a former public relations officer for Soweto giants Kaizer Chiefs, made an appearance at the Palm Ridge Specialised Commercial Crimes Court on Wednesday. The 74 year old made an appearance alongside his wife Suzan Tshakoane, 59, and Louis Tshakoane Jr, 34.
The trio face charges of fraud,theft, money laundering and contravention of the Financial Advisory and Intermediary Services Act.
Tshakoane’s time on the run came to an end after he was arrested whilst attending the funeral of long-serving Mamelodi Sundowns Alex Shakoane. His wife handed herself over to the police, while Louis Jr was arrested at a residence in Kempton Park.
In a statement, Police spokesperson Colonel Katlego Mogale says, “The father was arrested following an execution of a warrant of arrest by the Hawks‘ Serious Commercial Crime Investigation based in Johannesburg in relation to an ongoing investigation into an unregistered investment scheme.”
“He is reported to have participated in the presentations aimed at enticing potential investors with a promise of high returns. The amount of investments tendered is approximately R100 million“, Mogale adds.
Tshakoane Jr was previously arrested in 2019 and released on R70 000 bail. After making a number of court appearances, he absconded and his arrest was as result of a bench warrant for which he forfeited his bail.
Louis Tshakoane senior, who was linked to his son’s criminal enterprise “Undercover Billionaires”, was arrested in a joint Hawks / SAPS takedown today.
IRS represented several of the investors and opened a criminal case.
— IRS Forensic Investigations (@FraudWatchZA) May 16, 2023
The trio will appear again next week at the Palm Ridge Specialised Commercial Crimes Court for a formal bail application.
Meanwhile, IRS Investigators, representing a number of investors has lauded the police for the apprehension of the trio.
WARRANT OF ARREST ISSUED:
Kgopotso Louis Junior Tshakoane, founder of "Undercover Billionaires International", is wanted by Hawks.
Sandton SAPS CAS 260/7/2017
Sandton SAPS CAS 458/6/2017
Sandton SAPS CAS 975/11/2018
Please contact IRS via firstname.lastname@example.org pic.twitter.com/Vrkc7Mnr9f
— IRS Forensic Investigations (@FraudWatchZA) September 3, 2019
This article was originally published by APHIWE NGWENYA.