Former football club official arrested for defrauding investors out of millions

A former official of a top football club has been arrested by the Hawks for allegedly scamming people out of over R100 million.

The 74-year-old man was arrested during a funeral in Mamelodi on Tuesday.

Hawks spokesperson Katlego Mogale said that the man is suspected of having benefited from an unregistered investment company called Undercover Billions.

He said that the company promised investors high returns, however, that never materialized.

The man will appear along his with co-accused at the Palm Ridge Specialised Commercial Crimes Court on Wednesday where they will face charges of fraud, theft, money laundering, and contravention of the Financial Advisory and Intermediary Services Act.

-EWN

In other news – DJ Maphorisa & his bae, Thuli Phongolo resolve their matter privately

South African award-winning DJ Maphorisa and his girlfriend Thuli Phongolo, have broken his silence following assault allegations leveled against him by her.

Last week, the Amapiano DJ appeared at the Randburg Magistrate’s court on a charge of assault with intent to cause grievous bodily harm. In an unexpected move, Phongolo dropped the charge and the DJ was released on R4000 bail. Learn More