The Hawks’ Serious Commercial Crime Investigation has secured warrants of arrest for the Undercover Billionaires executives, Louis Jacob Tshakoana (70), and his wife Komane Suzen Tshakoana (55), for allegedly running an illegal multimillion rand investment scheme.
It is alleged that between 2014 and 2018, the Tshakoanas, 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.
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 R70 000 bail, and the case was postponed to the 6th of June 2019, pending further investigation.
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.
Anyone with information on their whereabouts is urged to contact the investigating officers on the case, Captain Hanyani Ngobeni on 071 481 3574 and Lieutenant Colonel Yolisa Sabela on 071 481 3612, alternatively 0860010111. Information provided will be treated with the strictest confidentiality.
