Former Kaizer Chiefs public relations officer and businessman Louis Tshakoane is due in court on Wednesday following his dramatic arrest at the funeral of Alex “Goldfingers” Shakoane in Mamelodi, Pretoria on Tuesday.
Tshakoane will appear at the Palm Ridge Specialised Commercial Crimes Court alongside his flamboyant son Louis Tshakoane JR for fraud and theft amounting to R100-million.
Tshakoane, who has been a fugitive from justice for four years, was wanted for running a multi-million rands funeral scheme with son.
Hawks spokesperson Colonel Katlego Mogale said Tshakoane’s arrest followed an execution of a warrant of arrest in relation to an ongoing investigation into an unregistered investment scheme.
“The suspect is alleged to have benefitted from the proceeds of the unregistered investment company known as Undercover Billionaires,” said Mogale.
“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 added that Tshakoane JR was arrested at a residence in Kempton Park, east of Johannesburg, also on Tuesday.
“The pair will appear in the Palm Ridge Specialised Commercial Crimes Court facing charges of fraud, theft, money-laundering and contravention of the Financial Advisory and Intermediary Services Act,” she said.
Tshakoane Jnr, who was once featured on reality TV show Rich Kids, allegedly lured unsuspecting people to invest in his Undercover Billionaires International.
Five years ago, he was nabbed for 500 counts of fraud amounting to an estimated a R22-million. He later skipped bail and has since been on the.
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