David Shapiro on SA’s ‘Bernie Madoff’ - the St Stithians old boy who stole billions

After 15 years of running a Ponzi scheme, financial advisor Craig Warriner confessed, handed himself over, pleaded guilty to any and all charges and is seeking the safety of a single cell in prison. An old boy of the prestigious Johannesburg school St Stithians, Warriner, who appears to be the South African equivalent of Bernie Madoff, has lost billions of clients’ rand through a trust named after Berkshire Hathaway. David Shapiro unpacks the story, highlighting red flags that will help others avoid falling into the clutches of fraudsters like this. He spoke to Alec Hogg of BizNews.