News24.com | Undercover Billionaire: Ex-Kaizer chiefs official, wife and son in court for R100m fraud

Louis Tshakoane junior, Suzan Tshakoane and Louis Tshakoane.

• Louis Tshakoane and his wife and son have appeared in court for R100 million fraud.
• The father was arrested on Tuesday at the funeral of Alex Shakoane. 
• They are expected to apply for bail later this month.

A former Kaizer Chiefs official who was arrested on Tuesday night after giving a speech at a funeral, has appeared in the Palm Ridge Specialised Commercial Crimes Court alongside his wife and son for fraud to the tune of more than R100 million.

Louis Tshakoane, 74, his wife Susan, 59, and his son Louis Tshakoane junior, 34, have been charged with fraud, theft, money laundering and contravention of the Financial Advisory and Intermediary Services Act.

Tshakoane was arrested at the funeral of long-serving Mamelodi Sundowns communications officer, Alex "Goldfingers" Shakoane after being on the run.

READ | Second person held after police arrest ex-Kaizer Chiefs official at Alex Shakoane's funeral

His son was arrested the same day in Kempton Park.

Louis Tshakoane junior was once featured on a Vuzu reality TV show called Rich Kids. The show followed the lives of wealthy young people in South Africa.

In it, he showed his luxury penthouse, designer clothes and car, and his personal chef.

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Gauteng Hawks spokesperson Colonel Katlego Mogale said the family allegedly benefitted from the proceeds of unregistered investment company, Undercover Billionaires.  

Mogale added:

He said the son was first arrested in 2019 and was released on R70 000 bail.

"The accused then made a series of appearances but later absconded. His arrest was a result of a bench warrant for which he forfeited his bail," Mogale said.

The accused are expected to appear in court again on 23 May for a bail application.