Former Kaizer Chiefs public relations officer, Louis Tshakoane, along with his wife Suzan Tshakoane and son Louis Tshakoane Junior, appeared in the Palm Ridge Specialised Commercial Crimes Court on Wednesday.
Louis Tshakoane at the centre of R100 million Ponzi scheme
This follows Tshakoane’s arrest in Mamelodi, Pretoria, a day earlier, after being on the run for two years.
As reported by News24, another individual, a 34-year-old, was also apprehended in Kempton Park on Tuesday, according to Gauteng Hawks spokesperson Colonel Katlego Mogale.
Tshakoane is facing charges of fraud, theft, and money laundering, amounting to over R30 million.
The arrest is connected to his alleged involvement in an unregistered scheme called “Undercover Billionaires.”
The scheme reportedly enticed potential investors with promises of high returns, resulting in investments of approximately R100 million, as stated by Colonel Mogale.
The family had been missing since November 2020, coinciding with the departure of Malawian-born televangelist Shepherd Bushiri, who fled the country while out on bail. The source revealed that Tshakoane’s son, who was on trial at the Johannesburg Commercial Crimes Court, also disappeared during that time.
Last week, authorities discovered that Tshakoane would be present at the memorial service of Alex Shakoane, a renowned Mamelodi Sundowns public relations officer. Consequently, plans were made to apprehend him, which took place immediately after he delivered a speech at the funeral, on Tuesday.
While it is yet to be confirmed, there is speculation that the Tshakoane family, like the Bushiris, sought refuge in Malawi after being granted bail.
The source suggests a close association between the Tshakoanes and Bushiri’s church, with claims that the Tshakoanes were significant funders and senior members of the church.
The case has been postponed until Tuesday, 23 May 2023, to allow for a formal bail application.