ponzilatest news & developments
Craig Warriner. Graphic representation by John McCann/M&G

Victims of R2.7bn BHI Trust ponzi scheme in the dark

Investors are worried that as the investigation drags on, their life savings may have been transferred out of reach to offshore companies

  • Des Erasmus
6 min read
(Graphic: John McCann/M&G)

Global & Local distances itself from BHI Trust financial scandal

The financial intermediary says its ‘directors, staff, their families and friends have also suffered loss arising out of investments’ in the collapsed fund

  • Eyaaz
6 min read
(Graphic: John McCann/M&G)

Ponzi scheme: BHI Trust inquiry is shrouded in secrecy

Forensic investigator raises the alarm over the decision to hold an in-camera inquiry into the swindle in which investors lost billions and calls for the minister of finance to intervene

  • Eyaaz
9 min read
Investec has terminated its business relationship with Global & Local, the financial intermediary associated with the R2,7 billion BHI Trust financial scandal that has rocked South Africa. Photographer: Waldo Swiegers/Bloomberg via Getty Images

BHI Ponzi scandal: Investec cuts ties with Global & Local

The bank is terminating its relationship with the financial intermediary which is now directing clients to a business that has a director in common with BHI Trust’s administrator

  • Eyaaz
8 min read
It emerged this week that apart from the initial charge of fraud that Warriner is facing after his co-trustee, Christian Ashcroft, reported him to the police, additional fraud charges have been opened against directors of two other firms and 11 associated financial services entities

BHI Trust’s R2.7 billion financial scandal hits investors hard

Dozens of desperate investors are demanding answers about how their money could simply ‘disappear’ from the fund that claimed to have used registered financial service providers

  • Eyaaz
11 min read