FREE STATE – The Bethlehem Commercial Crimes Court has found one of the infamous Phuthaditjhaba fraudsters guilty. Neo Patrick Makhokolo (29) was sentenced on Friday, 11 August 2023 for fraud, contravention of the Banks Act 94 of 1990, contravention of the Financial Advisory and Intermediary Services Act 37 of 2002, and money laundering. He was also declared unfit to possess a firearm.
Makhokolo went on a rampage between 2018 and 2019 using a fraudulent company called “Black Child Billionaire.” A number of Phuthaditjhaba residents joined an invest scheme through this company with promises of interest ranging between 25% and 100% in just a month. Four known victims lost a cumulative amount of over half-a-million rand. They reported the matter when return on investment was not forthcoming.
The accused was sentenced to four years imprisonment suspended for five years on three counts of fraud, four years imprisonment suspended for five years on three counts of contravention of the Banks Act, four years imprisonment suspended for five years on three counts of contravention of the Financial Advisory and Intermediary Services Act, and five years imprisonment suspended for five years on three counts of money laundering. He was also ordered to repay one of the victims R18 000-00 in instalments of R1 500-00.
Co-founder of Black Child Billionaire, Lebohang Ernest Maboea (pictured) is still being sought by the Hawks. The 27-year-old Maboea is on the run and believed to be hiding in either Gauteng or Free State. He was arrested in July 2021, released on bail but failed to appear in court on a number of occasions.
Anyone with information on the whereabouts of Lebohang Ernest Maboea is urged to call Detective Warrant Officer Sidwell Mpholo on 082 372 0386 or Crime Stop on 08600 10111. You may also leave an anonymous tip-off on MySAPSApp.
Content retrieved from: https://www.saps.gov.za/newsroom/msspeechdetail.php?nid=47808.
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