Central SA
Co-founder of fraudulent company wanted by Hawks─── HEIDRÈ MALGAS 11:33 Tue, 15 Aug 2023
The founder of a fraudulent company, Black Child Billionaire, Neo Patrick Makhokolo, has been found guilty of fraud, contravention of banking laws, and money laundering. Cofounder Lebohang Ernest Maboea is now wanted by the Hawks.
Hawks spokesperson Zweli Mohobeleli said the Bethlehem Commercial Crimes Court sentenced Makhokolo on Friday (11/8). Makhokolo (29) was also declared unfit to possess a firearm.
Makhokolo operated the fraudulent scheme between 2018 and 2019, luring Phuthaditjhaba residents to invest with promises of high returns ranging from 25% to 100% in just one month. “Four victims lost a total of over half a million rand and reported the scam when they did not receive their promised returns,” said Mohobeleli.
#sapsHAWKS Free State: Co-founder of fraudulent investment company, 'Black Child Billionaire', Lebohang Ernest Maboea (in photo) is still being sought by the #Hawks. He is #wanted for fraud. Info->D/WO Sidwell Mpholo on 082 372 0386 #CrimeStop #MySAPSApp ME… pic.twitter.com/PJ4ojV6AsK
— SA Police Service ???? (@SAPoliceService) August 15, 2023
The court sentenced Makhokolo to suspended prison terms on multiple counts of fraud, contravention of banking laws, and money laundering. He was ordered to repay R18 000 to one of the victims in instalments of R1 500.
Maboea remains at large. The 27-year-old is believed to be hiding in either Gauteng or the Free State and has been sought by the Hawks. He was arrested in July 2021 but failed to appear in court after being released on bail.
Anyone with information on the whereabouts of Maboea is urged to contact Detective Warrant Officer Sidwell Mpholo at 082 372 0386 or Crime Stop at 08600 10111.
