FORMER Kaizer Chiefs public relations officer, Louis "Sprinter" Tshakoane and his family appeared in the Palm Ridge Specialised Commercial Crimes Court on Wednesday, 17 May.
Sprinter (74), his son Louis Jnr (34), and his wife, Nkopane (59) face charges of fraud, theft, money laundering and contravening the Financial Advisory and Intermediary Services Act.
This after Sprinter and Louis Jnr were arrested on Tuesday, 16 May, while Nkopane handed herself over to cops on Wednesday, 17 May. Sprinter was arrested at the funeral of former Mamelodi Sundowns communications manager, Alex Shakoane, while Louis Jnr was arrested at his home in Kempton Park, Ekurhuleni.
State prosecutor Terrence Zitha said Louis Jnr was first arrested in 2018, where he was granted R75 000 bail. The accused then made a series of appearances, but later absconded. His arrest was the result of a bench warrant for which he forfeited his bail.
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Zitha said Louis Jnr and Sprinter hosted several seminars and lured people to invest in the scheme, Undercover Billionaires, with the promise their money would increase by 50%. He said Nkopane benefited from the scheme.
The state prosecutor said the investigating officer informed him the three suspects are a flight risk, which is something that still need to be verified with Home Affairs.
Hawks spokeswoman Colonel Katlego Mogale, said more than 10 people have opened cases of fraud against the suspects.
She said: “The accused are alleged to have benefitted from the proceeds of the unregistered investment company known as Undercover Billionaires. The amount of investments tendered is approximately R100 million."
NPA regional spokeswoman Phindi Mjonondwane, said the state would oppose bail citing among other reasons that the accused are a flight risk.
“The trial started in 2018. We only had one accused and he was granted bail. He absconded and a warrant of arrest was issued. The police have been tracing all the three accused since 2018,” she said.
The case was postponed to 23 May for bail application.
