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Unmasking the BHI trust: South Africa's R2.9 billion ponzi scheme

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In this BizNews recap we look back at when South Africa’s financial world was shaken by the collapse of the BHI Trust, a Ponzi scheme that defrauded thousands of investors out of R2.9 billion. Promising steady returns, the scheme lured in retirees, pensioners, and high-net-worth individuals, only to leave them financially devastated. Founded by Craig Warriner during the 2008 financial crisis, the BHI Trust operated for years, deceiving even experienced investors. As the fraud unraveled, key players like Warriner, Michael Haldane, and Sona Pillay faced the law, revealing a web of deceit, money laundering, and negligence. The fallout left investors questioning how such a massive scheme went undetected for so long.
9 Oct 2024 6AM English South Africa Investing · Business News

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