July 13, 2024

NPA Opposes Bail In Former Chiefs Spokesperson’s Fraud, Corruption Case

0
Spread the love

Investors were lured with promises of higher-than-normal returns on their capital which they ultimately lost.

FILE PHOTO: Fraud accused Lious Tshakoane together son Kgopotso Tshakoane to remain behind bars until late July. PICTURE: Facebook

0 0
Spread the love
Read Time:1 Minute, 32 Second

JOHANNESBURG: The NPA says they will oppose bail in the fraud and corruption case former Kaizer Chiefs spokesperson, Louis Tshakoane.

Tshakoane together with his wife and son, Kgopotso, appeared in the Specialised Commercial Crimes Court in Palm Ridge on Gauteng’s East Rand, on Wednesday.

In 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.

Tshakoanes have been on the run for years and were arrested at the funeral of Mamelodi Sundowns spokesperson, Alex Shakoane in Pretoria in connection with fraud, theft, and money laundering, totalling over R30-million.

Gauteng NPA spokesperson Phindi Mjonondwana said, “Well as the state we will be opposing bail citing amongst others that the accused are flight risks. At the initial stage when this trial started, we only had accused number one, Kgopotso, and then he was granted bail for R75 000 in March 2018. Then the trial resumed and then he absconded and never attended court.”

The initial case of fraud was opened in July 2017, against Louis Junior Tshakoana (29), who is the pair’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 Tshakoana was granted a R75 000 bail.

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.

The matter was postponed to the 23rd of July for a formal bail application.

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Please follow and like us:
Pin Share

About Author

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published. Required fields are marked *

× How can I help you?