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Hawks hunt Tshakoanes over 'Undercover Billionaires' scheme

Former Kaizer Chiefs spin doctor Louis Tshakoana and his son Louis Junior Tshakoana
Former Kaizer Chiefs spin doctor Louis Tshakoana and his son Louis Junior Tshakoana
Image: Instagram/Louis Junior Tshakoana

The Hawks have issued warrants of arrest for former Kaizer Chiefs spin doctor Louis Tshakoane and his wife Komane Tshakoane who are believed to be on the run.

The pair Louis, 70 and Suzen, 55 is wanted for their alleged involvement in an illegal multi-million rand investment scheme tagged ‘Undercover Billionaires’.

“It is alleged that between 2014 and 2018, the Tshakoanes, persuaded unsuspecting funders around the country to bankroll an alleged illegal investment scheme known as Undercover Billionaires. Further investigations revealed that the family’s company was not registered with the Financial Sector Conduct Authority (FSCA). Investors were lured with promises of higher than normal returns on their capital which they ultimately lost,” Hawks spokesperson Captain Ndivhuwo Mulamu.

Mulamu said the initial case of fraud was opened in July 2017, against Louis Tshakoane Junior, 29, the couple's son.

“He subsequently handed himself over at the Johannesburg Hawks offices in March 2018, in the company of his parents and an attorney. The matter was enrolled for court and Louis Junior was granted R70,000 bail, and the case was postponed to the sixth of June 2019, pending further investigation,” Mulamu added.

“Further investigations have implicated both his parents and when attempts were made to get them to account, it soon became clear that they were absconding, hence warrants for their arrest have been issued.”

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