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Former Kaizer Chiefs Public Relations Officer Louis Tshakoane Appears in Court for Fraud Charges
A former Kaizer Chiefs Public Relations Officer, Louis Tshakoane, along with his wife and son, appeared in the Palm Ridge Specialised Commercial Crimes Court on Wednesday, accused of fraud amounting to more than R100 million.
The charges stem from their alleged involvement in an unregistered investment scheme called Undercover Billionaires as reported by The Citizen. The trio, consisting of Louis Tshakoane (74), Suzan Tshakoane (59), and Louis Tshakoane Jr. (34), will face charges including fraud, theft, money laundering, and contravention of the Financial Advisory and Intermediary Services Act.
According to a statement from police spokesperson Colonel Katlego Mogale, the arrest of the father, Louis Tshakoane, took place at a funeral in Mamelodi, east of Pretoria, following the execution of a warrant by the Hawks’ Serious Commercial Crime Investigation unit. The investigation is ongoing, and it is alleged that Tshakoane participated in presentations aimed at luring potential investors with promises of high returns. The total amount invested is estimated to be around R100 million.
Also Read: Louis Tshakoane Former Kaizer Chiefs Public Relations Officer Arrested Amidst Fraud Allegations
Louis Tshakoane Jr., the 34-year-old son, was arrested at a residence in Kempton Park. It was revealed that he had previously been arrested in 2019 and had been granted bail. However, he subsequently absconded, resulting in a bench warrant being issued for his arrest and the forfeiture of his bail.
The case has been postponed to next week for a formal bail application, and the accused will appear again at the Palm Ridge Specialised Commercial Crimes Court.
In a separate incident, two senior officials employed by the Polokwane Municipality were suspended last week Friday following an investigation into irregularities and maladministration involving over R100 million. The officials are suspected of fraud and corruption related to water project management contracts and the acquisition of buses through the Leeto la Polokwane program.
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