Arrest warrant issued for Barry Tannenbaum

A warrant of arrest has been issued
for mastermind of a recent multibillion-rand Ponzi fraud scam, said Finance Minister Pravin Gordhan on Tuesday.

Over 700 investors have been affected by the scheme and about R12-billion was involved, it has been revealed.

Gordhan spoke strongly about the need to quell corruption and fraud in South Africa.

A warrant for Tannenbaum’s former lawyer, Dean Rees, has also been issued.

Tannenbaum has been living in Australia, according to reports, while the assets of Rees had reportedly been frozen.

Tannenbaum was said to have lured investors with the promise of 200% annual returns linked to pharmaceutical imports and was accused of forging HIV/Aids drug orders to give reassurance when money started to dry up. - I-Net Bridge

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