Melissa Clarke: A growing number of small businesses are being targeted by a very modern type of theft known as fraudulent chargebacks. For businesses already struggling with inflation and changes to debit and credit card surcharges, this new type of fraud is taking a toll. Business reporter Adelaide Miller reports.
Adelaide Miller : Bronte Goodieson didn’t know what a chargeback was until hundreds of dollars were taken out of her account. The local artist from Sydney had sent off three paintings to an online customer in July last year when she got an email flagging a problem with the order.
Bronte Goodieson: It was like the Sunday afternoon, I was just on a walk and I was checking my emails and it was like $460 is going back to this customer. So I like checked it, I was like yeah the post number’s there, I packed it and they haven’t emailed me.
Adelaide Miller : She is one of the many…
CLICK HERE to read the FULL Chargeback 'fraud' crippling businesses – ABC listen article.
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