Former Kaizer Chiefs spokesperson Louis Tshakoane and his wife Susan will find out if they will feel the warmth of their bed for the first time in over a week as their bail verdict is set to be heard in court today.
The Tshakaone couple will appear at the Palm Ridge Specialised Commercial Crimes Court alongside their son Louis Tshakaone junior, who is a well-known businessman and was even profiled on Vuzu TV show Rich Kids, which showcased the lifestyles of super rich South African youth and how they spend their money.
The duo, accused of fraud and theft amounting to R100-million, is seeking bail of R10 000 each at the court following their arrest a week ago.
Tshakaone junior dropped his bail bid on Tuesday as the trio appeared before magistrate Phindi Keswa in the same court.
On Thursday, Keswa will decide if the elderly Tshakaones should be granted bail and set conditions.
The family is facing charges of fraud, theft and contravening the financial advisory services act relating to allegations that they swindled unsuspecting investors, including church members, of monies amounting to R100-million through their investment company, Undercover Billionaires.
On Tuesday, the Tshakaones told the court, which was packed with members of the media, friends and family members who came to support the couple, that despite their son’s flashy lifestyle, they were broke and living off their R1 900 pension every month.
The 72-year-old Tshakaone senior told the court that he could not afford a higher bail amount because if granted bail, he could not skip the country because he was broke.
“I cannot skip the country because I can not afford to sustain a life outside the country as a fugitive,” his affidavit read.
Tshakoane senior also told the court he was not in any position to be in jail for long because of his ill health.
The state did not oppose bail. However, the prosecutor mentioned on record that Tshakoane and his wife have been evading arrest since 2019 by dodging the police whenever they came to arrest them at their house.
The prosecutor stated that police went as far as going to controversial Malawian pastor Sheperd Bushiri’s hotel in the Free State, where the Tshakoanes where booked, but were not successful in arresting them.
He also dismissed claims that they cannot afford bail, saying that their son skipped bail and left the country for Dubai on vacation while he was out on R75 000 bail.
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