Published: May 18, 2026 7:00 am
Community Economic Development Fund (CEDF) is a mission-driven, nonprofit Connecticut economic development organization. It provides business loans in disadvantaged communities defined by the state, and in other Connecticut municipalities it lends to business borrowers with household incomes below the state median.
Part of CEDF’s mission is to educate small business owners with free or low-cost training seminars. The next free webinar is planned for Thursday, June 25, 1-2 pm, “Keep Your Business Safe from Fraud.”
Fraud prevention is not about fear, complex technology, or assuming “it will not happen to me.” For small businesses operating in fast-moving, real-world environments, protecting a business is something far more practical — and far more essential.
A strong approach to fraud awareness is built intentionally, rooted in education, vigilance,…
THE BHI TRUST PONZI SCHEME (SOUTH AFRICA)
Date: Ongoing updates through February 2026 Perpetrator: Craig Warriner (Principal), with alleged co-conspirators
Case Description: The BHI Trust scandal remains one of South Africa’s most devastating financial crimes, involving the loss of between R1.9 billion and R3 billion. Craig Warriner, the “genius trader” behind the trust, turned himself in during late 2023, but the legal and recovery battles reached a fever pitch in 2025 and 2026. Warriner operated the trust as a textbook Ponzi scheme, utilizing “Old Boy” networks and high-profile brokers to lure in pensioners and high-net-worth individuals with promises of 20% annual returns.
In early 2025, the National Prosecuting Authority (NPA) faced heavy criticism for “provisionally withdrawing” charges against alleged co-conspirators Michael Haldane and Sona Pillay. However, civil recovery efforts by joint trustees have continued into 2026, aiming to claw back hundreds of millions in “fictitious profits” from early investors to redistribute to those who lost everything. The case is a masterclass in the failure of fiduciary duty; the FSCA eventually banned several advisors for up to 30 years for peddling the unlicensed scheme despite clear red flags, such as the lack of a website, the absence of regulated financial reports, and a fee structure that was triple the industry average.
Link to Original: Moneyweb – BHI Trust Scandal Deep Dive