NEW ORLEANS (WVUE) – The Louisiana Department of Insurance says fraud, such as car crash schemes, drives up insurance costs for everyone.
Prosecuting U.S. Attorney Michael Simpson said the case is about more than the claims that Motta and Giles are convicted of fraudulently filing with insurance companies.
“One thing I want to make eminently clear: insurance fraud is not a victimless crime,” Simpson said. “It is a crime that destroys businesses, impacts lives, and disrupts our society.”
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Insurance fraud costs Louisiana drivers an estimated $4 billion a year, according to the Department of Insurance.
Louisiana Insurance Commissioner Tim Temple said people here file lawsuits over car crash injuries at a rate three times higher than the national average.
“We have the same number of accidents but we are filing twice the number of bodily injury .. that’s the problem,” Temple…
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