A major Chinese state-owned manufacturer of heavy equipment is now facing criminal charges.
Police in Ontario have filed criminal charges against one of XCMG’s officials for allegedly tampering with serial number plates on equipment they were selling in Canada.
Documents filed in the Ontario Court of Justice show that XCMG Canada official Tao Li is accused of defrauding an Ontario distributor for $21 million.
XCMG is one of the world’s largest builders of heavy equipment and in recent months, the company been involved in civil lawsuits where it has been accused of fraudulently changing out serial numbers on its machines to make them appear newer than they actually were.
Veteran heavy equipment dealer Ryan Martin told Global News in mid-October that his business started…
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