WASHINGTON, D.C. (KEYC) – A new congressional report accuses Governor Tim Walz and Attorney General Keith Ellison of ignoring widespread fraud in Minnesota’s federally funded social service programs for years — allowing billions of taxpayer dollars to flow to fraudulent actors.
The House Committee on Oversight and Government Reform released the report Monday, titled “The Cost of Doing Nothing: How Tim Walz and Keith Ellison Fueled Minnesota’s Fraud Explosion.” The committee says Minnesota officials were aware of credible and systemic fraud as early as 2019 but repeatedly failed to act, despite having the authority to suspend payments and ban fraudulent providers without direction from courts or law enforcement.
According to the report, the failures allowed an estimated $300 million in federal child nutrition funds to be lost. Investigators also say up to $9 billion in Medicaid-related…
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