Hawks obtain arrest warrants for couple operating pyramid scheme

Hawks obtain arrest warrants for couple operating pyramid scheme

- The Hawks have secured arrest warrants for a couple involved in a pyramid scheme

- The couple, Louis Jacob Tshakoana and Komane Suzen Tshakoana, scammed investors out of millions

- Their son is currently out on bail relating to fraud charges associated with the scheme

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The Hawks have obtained arrest warrants for Louis Jacob Tshakoana and his wife, Komane Suzen Tshakoana.

The couple are executives for Undercover Billionaires, an investment scheme.

The scheme has reportedly served as a means by which the couple defrauded people out of millions of Rands.

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The investment operation has been revealed to be a pyramid scheme and essentially involved people making investments which they would never see a return on.

The Tshakoanas were successful in roping several victims into the scheme, which totalled millions of Rands. Unsurprisingly, the scheme was not registered with the Financial Sector Conduct Authority.

The ringleader of the scheme appears to be the Tshakoanas' son, Louis Junior Tshakoana. He turned himself in to the Hawks in early 2018 after a case of fraud was opened against him, according to eNCA.

Louis Junior is out on R70 000 bail and is set to appear in court on 6 June. 

The Hawks' Serious Commercial Crime Investigation Unit is now tracking down the elder Tshakoanas, but thus far the couple has evaded arrest. The Hawks have urged anyone with information regarding their whereabouts to come forward.

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They have also indicated that if the Tshakoanas continue to avoid authorities they will be considered fugitives, Briefly.co.za has gathered.

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Source: Briefly.co.za

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