Former Kaizer Chiefs PR officer Louis Tshakoane’s fraud case postponed to next week

The case against former Kaizer Chiefs public relations officer Louis Tshakoane and his co-accused was postponed to next week for a formal bail application.

Tshakoane, along with his wife and son, appeared in the Palm Ridge Commercial Crimes Court on Wednesday on charges of fraud, theft, and money laundering.

He is accused of benefitting from an unregistered investment scheme called Undercover Billionaires.

Tshakoane was arrested on Tuesday after his speech at the funeral of Mamelodi Sundowns’ public relations officer, Alex Shakoane, in Mamelodi.

Police said the trio would appear in court again for a formal bail application on 23 May.

“The accused are alleged to have benefitted from the proceeds of the unregistered investment company known as Undercover Billionaires,” said spokesperson Katlego Mogale.

“They are reported to have participated in the presentations aimed at enticing potential investors with a promise of high returns. The number of investments tendered is approximately R100 million,” he added.

-EWN

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