Wife joins Tshakoane, son in the dock over ponzi scheme

‘Investors swindled’ of about R100m in scam

Noxolo Sibiya Journalist
Kgopotso Louis Tshakoane Junior, Louis Tshakoane and Nkopane Tshakoane in the Palm Ridge magistrate’s court.
Kgopotso Louis Tshakoane Junior, Louis Tshakoane and Nkopane Tshakoane in the Palm Ridge magistrate’s court.
Image: Veli Nhlapo

The wife of former Kaizer Chiefs PRO Louis “Sprinter” Tshakoane allegedly benefited from the proceeds of an investment scheme that defrauded investors with the promise of doubling their returns.

These are the charges against the former spin doctor’s wife Susan Nkopane Tshakoane, which were read onto the record in the Palm Ridge specialised commercial crimes court, on the East Rand, on Wednesday.

She turned herself in to the police yesterday morning, just hours before she, her husband and their son Kgopotso appeared in court on charges of fraud, theft, money laundering and contravention of Financial Advisory Services Act.

“She received benefits from accused number one [Kgopotso] and two [Louis] in the form of a motor vehicle that was bought from East Rand Mall Mercedes-Benz.

“A Mercedes-Benz CLA, that was bought for R500,000 cash,” said prosecutor Terrence Zitha.

“She faces a case of money-laundering for receiving benefits from the proceeds of crime. At this stage the position of the state is that we are opposing bail.”

Louis and Nkopane have been on the run from the law since 2019 after a warrant was issued for their arrest in connection with allegedly running an investment scam called Underground Millionaires from 2014 in which they allegedly swindled their investors of about R100m.

Kgopotso turned himself in after a charge of fraud was opened against him in 2019. He appeared in court and was granted R75,000 bail, only to abscond from the trial. He was rearrested at his home in Kempton Park, Ekurhuleni, on Tuesday.

Minutes later, his father was arrested after addressing mourners at the funeral of Sundowns’ former communications manager Alex “Goldfingers” Shakoane in Mamelodi, northeast of Pretoria, Tshwane.

Zitha said Tshakoane Junior, through their company Undercover Millionaires which was later rebranded to Undercover Billionaires, invited members of the public to invest in their company and promised them abnormally high returns. More than 10 people reported cases to the police when they did not receive their returns and their investments.

“At some stage, the account of the accused [Undercover Billionaires] had over R20m. Seminars were held and people were invited to deposit money with the promise that their monies would increase up to 50% per month,” Zitha said.

“According to the police involved in the matter, they went to the addresses of accused number two and three [Nkopane] and never succeeded because they were not there.”

Zitha said he would oppose bail for all three, given that Kgopotso contravened his bail conditions and his parents hid from the police.

Their case was postponed to next week at the same court for a formal bail application.


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