Wanted by the Hawks: 'Absconding' Undercover Billionaires executives

2019-05-28 22:19
(Felix Dlangamandla/Gallo)

(Felix Dlangamandla/Gallo)

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The Hawks have issued a warrant of arrest for "Undercover Billionaires" executives Louis Tshakoana and his wife Komane, for allegedly running an illegal multimillion-rand investment scheme between 2014 and 2018.

The Hawks’ Serious Commercial Crime Investigation secured the warrants on Monday afternoon.

Hawks spokesperson Captain Ndivhuwo Mulamu said the now failed investment scheme left investors in the lurch.

"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," said Mulamu.

A Hawks investigation found 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, the pair’s son. He handed himself over at the Hawks’ offices in Johannesburg in March 2018, in the company of his parents and an attorney. 

"The matter was enrolled for court and the couple’s son was granted R70 000 bail. The case was postponed to June 6, pending further investigation.

"Further investigations have implicated 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," Mulamu said.

Anyone with information on their whereabouts is urged to contact investigating officers Captain Hanyani Ngobeni on 071 481 3574 or Lieutenant Colonel Yolisa Sabela on 071 481 3612. Alternatively phone CrimeStop on 0860010111.

Read more on:    fraud
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