Since it was announced that Gal Hirsch, the coordinator for hostages and missing persons, will light a torch at the state Independence Day ceremony at Mount Herzl, the decision has faced sharp criticism, especially from hostage families, as well as from soldiers who served under him during the Second Lebanon War.
Hirsch has also been involved in a criminal case and is currently facing a trial for tax offenses dating back years.
Hirsch, 62, was the candidate for police commissioner in 2015 under then-minister of public security Gilad Erdan, but his candidacy was removed due to the allegations against him. In addition to suspected tax violations, the investigation initially included suspicions of bribery of a foreign public official, but insufficient evidence was found.
Nearly five years ago, in October 2021, the prosecution filed charges against Hirsch and three other individuals for…
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