Murder Mystery: DJ Sumbody’s Business Partner Secured R15 Million Life Cover Policy Before His Tragic Death
Kagiso Setsetse, a business partner of DJ Sumbody, had secured a R15 million life insurance policy a year prior to his tragic execution-style murder in Johannesburg.
Alleged 28s gang boss and Cape Town entrepreneur Ralph Stanfield revealed these unsettling revelations in an exclusive interview with Sunday World.
DJ Sumbody’s And His Business Partner: Underworld Gang Threats And Gang Protection
Stanfield recounted how during the Ayepyep establishment’s renovation phase, Setsetse and Sumbody faced threats from unknown gang members, who demanded a protection fee for the business’s operation – a demand allegedly on behalf of two notorious underworld figures. Seeking security measures, Setsetse and Sumbody sought help from a mutual contact, Ralph Stanfield.
Towards the end of 2019, Ralph and Setsetse met in Pretoria and offer a partnership to Ralph’s wife, Nicole. The terms outlined Nicole’s oversight of overall operations, and the three directors – Nicole, DJ Sumbody, and Kagiso – would each enjoy a monthly R150,000 salary, with an additional annual R1.5 million split.
In April 2021, during Ayepyep Cape Town’s official opening, Setsetse and DJ Sumbody received threats from unidentified individuals, prompting a hasty meeting with Stanfield to secure the spot.
Kagiso Setsetse Takes Our Life Cover Policy For DJ Sumbody
DJ Sumbody’s Business Partner Secured R15 Million Life Cover Policy Before His Tragic Death [Image: Afternoon Express/Facebook]
In 2021, Stanfield alleged that Setsetse and Sumbody modified their Ayepyep Menlyn shareholder agreement, and Setsetse arranged a R15 million life insurance policy for Sumbody.
Stanfield claimed that last year, Setsetse illegally procured Sumbody’s death certificate after Sumbody’s mother declined to provide it. This alleged move was connected to an apparent insurance claim that was disrupted by detectives.
Setsetse and his wife Suzen Raphela, who married in December, expressed concerns about safety in Gauteng, contemplating a move to Cape Town. Setsetse reached out to Nicole for help enrolling his children in school in early 2023.
“They ended up not moving. In January Setsetse offered Nicole, who owns 33% of the joint’s shares, more shares on condition that he takes out life insurance for her. He even produced a certificate which stated that he was the majority shareholder with 67% from the Setsetse Family Trust and with Nicole’s 33% shares, they would leave the Sefoka family out in the cold.”
Kagiso then booted Nicole from accessing Ayepyep’s accounts as he started withdrawing hefty amounts of money from the business account and spending it in Dubai. Nicole started using speed points to collect payments from clients.
Stanfield noted that Setsetse’s secret acquisition of Sumbody’s shares spurred legal action by Sumbody’s family.
Setsetse confirmed arranging an insurance policy for Sumbody, describing it as a buy-and-sell agreement among directors to cover shares in case of death. He maintained that upon insurance payout, the funds would benefit Sumbody’s family.
Setsetse refuted Stanfield’s allegations, positing them as an attempt to malign his character.
