Johannesburg - The Directorate for Priority Crime Investigation (Hawks) confirmed that a 74-year-old will appear in court tomorrow for allegedly running a multimillion-rand fraud scheme with his wife and son.
The suspect was arrested after rendering a speech at the funeral of the late Mamelodi Sundowns PRO, Alex Shakoane, in Mamelodi, Pretoria, today.
The arrests, according to the Hawks, follow the execution of a warrant of arrest in relation to an ongoing investigation into an unregistered R100 million investment scheme.
According to reports, the suspect is none other than former Kaizer Chiefs public relations officer (PRO) Louis Tshakoane, however, the Hawks are not in a position to reveal the name until he appears at Palm Ridge Specialised Commercial Crimes Court tomorrow.
Hawks spokesperson Colonel Katlego Mogale said the suspect was facing charges of fraud, theft, money laundering and contravention of the Financial Advisory and Intermediary Services Act.
"The suspect is alleged to have benefited from the proceeds of the unregistered investment company known as Undercover Billionaires. He is reported to have participated in the presentations aimed at enticing potential investors with the promise of high returns. The amount of investment tendered is approximately R100 million," said Mogale.
She said the second suspect, 34, was arrested in a residence at Kempton Park, Ekurhuleni.
Mogale said the pair will appear in court tomorrow.
A source told The Star that the law must take its course after the son of the 74-year-old suspect allegedly paraded a lavish lifestyle on Instagram.
The Star