The Hawks’ Serious Commercial Crime Investigation Unit has arrest warrants for Undercover Billionaires executives Louis Jacob Tshakoana, 70, and his wife Komane Suzen Tshakoana, 55. They were allegedly running an illegal multimillion-rand investment scheme.
“The Tshakoanas persuaded funders to bankroll an alleged illegal investment scheme known as Undercover Billionaires,” said Hawks spokesperson Captain Ndivhuwo Mulamu.
“The company was not registered with the Financial Sector Conduct Authority. Investors were lured with promises of higher than normal returns on their capital which they ultimately lost.”
The warrants were issued as it was apparent the Tshakoanas intended to abscond, he added.