COLUMBUS, Ohio (WSYX) — The Justice Department on Thursday announced what it called unprecedented federal and state cooperation in Ohio to detect and prosecute fraud, unveiling new partnerships, a data-sharing agreement and a new FBI “Most Wanted Fraudsters” list as authorities pursue cases involving tens of millions of dollars in alleged wrongdoing.
The department said federal and state prosecutors have brought charges against nine defendants for their alleged participation in more than $42 million in fraud. It also said three defendants were ordered detained this week, and two additional defendants are pending extradition in connection with an additional $15 million in alleged fraud.
“Ohio is leading the charge in the fight against fraud, and some states should take notice,” Acting Attorney General Todd Blanche said. “Working closely with Ohio officials, the Department of Justice…
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