The Tshakoane family will spend the week in police custody after their case was postponed to next week at the Palm Ridge Specialised Commercial Crimes Court on Wednesday.
Mama Tshakoane, Suzan, handed herself over to the police on Wednesday morning after her husband Louis Tshakoane was dramatically arrested by the Hawks at the funeral of Alex “Goldfingers” Shakoane in Mamelodi on Tuesday.
His arrest was followed by that of his son, Louis Tshakoane Jr, who was nabbed at a house in Kempton Park, east of Johannesburg.
The trio faces charges of fraud, theft and contravening the Financial Advisory Services Act. They have been remanded in custody until their next appearance on Tuesday for a bail hearing.
The Tshakoane are charged with fraud and theft amounting to R100-million.
The former Kaizer Chiefs public relations office and his wife, who have been fugitives from justice for four years, were wanted for running a multi-million rands funeral scheme along with Tshakoane JR.
Hawks spokesperson Colonel Katlego Mogale said Tshakoane was arrested following 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.
“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,” 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.
He was arrested five years ago on 500 counts of fraud amounting to an estimated a R22-million. He appeared in court, was granted bail and skipped bail, and has since been on the run.
Follow @SundayWorldZA on Twitter and @sundayworldza on Instagram, or like our Facebook Page, Sunday World, by clicking here for the latest breaking news in South Africa.
