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Former Kaizer Chiefs Communications Manager Louis Tshakoane is arrested for an alleged unlawful investment scheme.

Former Kaizer Chiefs Communications manager Louis Tshakoane.
Former Kaizer Chiefs Communications manager Louis Tshakoane.

The 74-year-old is facing fraud charges for conning unsuspecting people.

Using an unregistered investment company called Undercover Billionaires to convince people to invest.

He participated in presentations aiming to entice potential investors with a promise of high returns.

IN OTHER NEWS: https://thecoverup.co.za/2023/05/17/chiefs-promote-17-year-old-middlefilder/

Pro and his son Louis Tshakoane Jnr made approximately R100 million through their investment company.

The former Chiefs officer is running the scheme alongside his wife and son.

Tshakoane Jnr will also face the law, as the police caught him at Kempton Park yesterday.

IN OTHER NEWS: https://thecoverup.co.za/2023/05/16/chiefs-players-sabotaging-zwane/

However, Tshakoane Senior’s arrest came during the burial of Mamelodi Sundowns legend Alex Shakoane in Pretoria yesterday.

Tshakoane served as Chiefs Communications manager between 1982 and 1999 and was nicknamed Sprinter.

Because of his love of sprinting along the sidelines during matches.

The former Chiefs manager and his son will have a chance to prove their innocence in court later today.

They will appear in the Palm Ridge Specialised Commercial Court later today.

They are facing charges of fraud, theft, money laundering, and contravention of the Financial Advisory and Intermediary Services Act.

His former club is yet to comment on the arrest of Tshakoane.

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