From lavish lifestyle to prison for the Tshakoanes
|Published
Picture: Supplied/Hawks
Johannesburg - EX-Kaizer Chiefs public relations officer Louis "Sprinter" Tshakoane, his wife Suzan Tshakoane, and son Louis Tshakoane junior will spend a weekend behind bars in connection with alleged fraud to the tune of R100 million.
The trio will appear again in the Palm Ridge Specialised Commercial Crimes Court on May 23 for a formal bail application.
Tshakoane, 74, his wife, 59, and son, 34, appeared at the Palm Ridge Specialised Commercial Crimes Court yesterday morning in relation to an investment scheme dubbed “Undercover Billionaires”.
They are facing charges of fraud, theft, money laundering and contravention of the Financial Advisory and Intermediary Services Act.
IRS Forensic Investigations told The Star that it was appointed by a victim who had invested in the “Undercover Billionaires” forex trading scheme.
A case was opened on behalf of the victim at Sandton SAPS and transferred to the Johannesburg Serious Commercial Crimes Investigation Unit of the Hawks, where it was consolidated with other cases also opened against the principals of “Undercover Billionaires”.
“We are extremely happy about these arrests. The first cases against the principals of ‘Undercover Billionaires’ were opened five years ago. During that time, we have had Covid-19 and other issues that have impacted the State’s capacity to investigate the sheer number of fraud cases opened. These arrests show that SAPS and the Hawks are working on all their cases and that, no matter the length of time, they will catch those that have committed crimes,” said Chad Thomas, CEO of IRS Forensic Investigations.
Thomas said fraud was not just a problem in South Africa but a worldwide phenomenon.
“Spare a thought for SAPS, the Hawks and the NPA. Fraud is the fastest-growing crime in the world. In the UK last year, 40% of all crimes were fraud-related. It has not been possible for any law enforcement agency in the world to keep up with the massive increase in reported fraud and cybercrimes.
“However, in the South African context, we are seeing committed and dedicated police officers securing arrests despite the difficulties faced, as is evidenced by the arrests of some of the masterminds of the ‘Undercover Billionaires’ forex scheme,” Thomas said.
Tshakoane senior was arrested after speaking at the funeral of Mamelodi Sundowns FC PRO Alex ‘Goldfingers’ Shakoane in Mamelodi, east of Pretoria, on Tuesday following the 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.
The son was arrested at a home in Kempton Park, Ekurhuleni, also on Tuesday, and the wife handed herself over to the police yesterday morning.
Hawks spokesperson Colonel Katlego Mogale said the accused are alleged to have benefited from the proceeds of the unregistered investment company known as Undercover Billionaires.
“Tshakoane (the father) is reported to have participated in the presentations aimed at enticing potential investors with a promise of high returns. The amount of investment tendered is approximately R100m,” Mogale said.
She added: “Louis Tshakoane junior was arrested in a residence at Kempton Park. His first arrest was in 2019, where he was granted bail of R70 000. The accused then made a series of appearances but later absconded. His arrest was the result of a bench warrant, for which he forfeited his bail.”
IRS Forensic Investigations, which represented several investigators and opened a criminal case, applauded the police for the arrests.
Going through the Instagram account of Louis Tshakoane junior, one comes across images where he displays a lavish lifestyle.
In some images, he shows various luxury cars, homes, destinations and hard cash, including dollar notes.
The Star