Black Child Billionaire co-founder Neo Patrick Makhokolo has been found guilty and sentenced for scamming four victims, while the Hawks are still on the hunt for his partner who absconded while out on bail.
Hawks Free State spokesperson Lt-Col Zweli Mohobeleli said a number of Phuthaditjhaba residents joined an investment scheme through the company with promises of interest ranging between 25% and 100% in a month.
Four known victims lost a cumulative amount of more than R500,000.
Makhokolo, 29, was sentenced to four years' imprisonment on three counts of fraud, four years on three counts of contravention of the Banks Act, four years on three counts of contravention of the Financial Advisory and Intermediary Services Act and five years on three counts of money laundering. All the sentences were suspended for five years.
He was also ordered to repay one of the victims R18,000 in instalments of R1,500.
Black Child Billionaire co-founder Lebohang Ernest Maboea is still being sought by the Hawks.
He was arrested in July 2021 and released on bail.
The 27-year-old is believed to be in either Gauteng or Free State.
Anyone with information on his whereabouts is requested to call Det W/O Sidwell Mpholo on 082 372 0386 or Crime Stop on 08600 10111. Anonymous tip-offs can also be shared on the MySAPS app.
TimesLIVE
Black Child Billionaire ordered to repay victim, gets suspended sentence
Image: SAPS
Black Child Billionaire co-founder Neo Patrick Makhokolo has been found guilty and sentenced for scamming four victims, while the Hawks are still on the hunt for his partner who absconded while out on bail.
Hawks Free State spokesperson Lt-Col Zweli Mohobeleli said a number of Phuthaditjhaba residents joined an investment scheme through the company with promises of interest ranging between 25% and 100% in a month.
Four known victims lost a cumulative amount of more than R500,000.
Makhokolo, 29, was sentenced to four years' imprisonment on three counts of fraud, four years on three counts of contravention of the Banks Act, four years on three counts of contravention of the Financial Advisory and Intermediary Services Act and five years on three counts of money laundering. All the sentences were suspended for five years.
He was also ordered to repay one of the victims R18,000 in instalments of R1,500.
Black Child Billionaire co-founder Lebohang Ernest Maboea is still being sought by the Hawks.
He was arrested in July 2021 and released on bail.
The 27-year-old is believed to be in either Gauteng or Free State.
Anyone with information on his whereabouts is requested to call Det W/O Sidwell Mpholo on 082 372 0386 or Crime Stop on 08600 10111. Anonymous tip-offs can also be shared on the MySAPS app.
TimesLIVE
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