As Paragon’s Health Care Fraud Dashboard continues to demonstrate, fraud drains billions of dollars every year from federal health programs, harming patients and taxpayers. Between June 13 and 26, the Department of Justice (DOJ) moved on several fronts: it announced one of the largest coordinated fraud enforcement actions in history, sued a state Medicaid program, and brought a steady stream of charges, convictions, and settlements.
Major fraud cases included:
DOJ announced its 2026 National Health Care Fraud Takedown, charging 455 defendants with health care fraud and opioid schemes involving more than $6.5 billion in false claims across 45 states and territories. CMS suspended 1,079 providers and revoked billing privileges for another 1,403. Medicaid fraud was a focus: prosecutors charged 295 defendants with more than $518 million in alleged false claims, the largest Medicaid fraud…
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