Ponzi Scheme
latest news & developmentsAnger over lawyer’s murder
The young lawyer was shot dead in broad daylight outside the offices of the Council for Conciliation, Mediation and Arbitration (CCMA) in the Johannesburg CBD
BHI Trust Ponzi fraud accused walk free — for now
The state has provisionally dropped charges against Michael Haldane and Sona Pillay but investors could seek private prosecution
BHI Trust victims livid as alleged Ponzi fraudster cleared to travel
Investors who lost their life savings in the scheme fear that former Global & Local director Michael Haldane will not return to South Africa to face charges
BHI Trust: Convicted fraudster Craig Warriner sentenced to 25 years
The former co-trustee was found guilty of 206 counts of fraud in the scheme, which has cost investors at least R1.6 billion
Mail & Guardian defends application for a gag order
The lawsuit is the latest example of business entities trying to bar the media from reporting
BHI Trust’s associates’ global links exposed
But the South African expat listed as a Swiss resident has denied any connection to the company that apparently marketed the alleged ponzi scheme
Fund manager and brokers distance themselves from BHI Trust
Axiam Capital Management say they feel betrayed by Craig Warriner but fear no liability in the matter
Zimbabwe’s loan sharks smile as runaway inflation looms again
Well before Zimbabwe’s economy took a hit in the late 1990s, spurring world-record inflation, usury was a part of the daily lives of working-class households in South Africa’s…
High cost of get-rich-quick scams
South Africans are often swindled out of their savings by slick con artists. People need to ask questions and be wary of tempting offers
Small-town magician siphons $600m through ponzi scheme
Authorities say Paul Burks was the mastermind of a $600-million scam, one of the biggest in US history, that attracted one-million investors.
US fraudster Madoff says sentence too harsh
Bernard Madoff, sentenced to 150 years in jail for the biggest financial scam in US history, says the judge’s sentence was too harsh.
Krion accused convicted
Krion matriarch Marietjie Prinsloo was today found guilty on over 122 000 charges, including racketeering, money laundering and fraud.
Cops probe alleged pyramid scheme
Cops have conducted raids on the suspected masterminds minds behind an alleged pyramid scheme operating out of the Western Cape.
‘Enormous’ Ponzi scare
Hundreds of millions of rands have disappeared in an apparent Ponzi scheme believed to have operated in the Western Cape, Gauteng and KwaZulu-Natal.
Ponzi-scheme suspect Tannenbaum faces arrest
Arrest warrants for the masterminds of a Ponzi scheme that led to wealthy South Africans being swindled have been issued, it was announced on Tuesday.