![]() ![]() ![]() SO HOW DID SPRINTER END UP WITH AN ARREST WARRANT?Ī case of fraud was opened against Tshakoane Jr in July 2017 and he handed himself over in March the next year. While an arrest warrant was out for his parents, Tshakoane Jr dared those investigating him to attend his Johannesburg investment seminar “so we can teach them how to trade forex for real”. The family's company was not registered with the Financial Sector Conduct Authority (FSCA), thus were not allowed to invest other people's money. It is alleged the family pocketed about R27m. The Hawks said between 20, the Tshakoanes persuaded unsuspecting people around the country to bankroll the scheme, with the promises of higher than normal returns. He sold tickets to the seminars.Īt the seminars he name-dropped international billionaires such as “uncle” Sir Richard Branson and included “testimonials”. He gave presentations at churches and other gatherings to invite people to seminars where he discussed how to get rich. Tshakoane and his wife have been implicated in an alleged illegal forex and cryptocurrency pyramid investment scheme by his son Louis Tshakoane Jr, known as Undercover Billionaires.Īt least in the beginning, Tshakoane Jr pitched Undercover Billionaires as a “network of entrepreneurs”. Tshakoane was arrested after speaking at the funeral of Alex Shakoane at the International Assemblies of God church in Mamelodi on Tuesday.Ī police officer, who asked not to be named as he is not allowed to speak to media, told SowetanLIVE the Hawks waited for him to finish his speech before arresting him. Police arrested former Kaizer Chiefs public relations officer Louis “Sprinter” Tshakoane on Tuesday for his alleged involvement in an illegal investment scheme.
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