Louis Tshakoane, a former Kaizer Chiefs public relations officer, has appeared in court on accusations relating to a suspected multi-million rand fraud scheme.
The 74-year-old was arrested after speaking at the funeral of Mamelodi Sundowns spokesperson Alex Shakoane on Tuesday.
On Wednesday, he appeared in Palm Ridge Specialised Commercial Crimes Court with his wife, Suzan Tshakoane (59), and son, Louis Tshakoane Junior.
They are facing charges of fraud, theft, money laundering and contravention of the Financial Advisory and Intermediary Services Act.
“The accused are alleged to have benefitted from the proceeds of the unregistered investment company known as Undercover Billionaires,” said Hawks spokesperson Katlego Mogale.
“He is reported to have participated in the presentations aimed at enticing potential investors with a promise of high returns. The number of investments tendered is approximately R100 million.
“Louis Tshakoane Junior was arrested in a residence at Kempton Park. He was first arrested in 2019 where he was granted bail of R70 000. The accused then made a series of appearances but later absconded, his arrest was as result of a bench warrant for which he forfeited his bail.”
The case was postponed to 23 May for a formal bail application.