PORTLAND, Ore. (KATU) — Federal agents and Portland police executed multiple search warrants Tuesday morning in Portland’s South Waterfront neighborhood as part of an ongoing fraud investigation.
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KATU received a tip about a large police presence at the Willamette Tower Apartments in the South Waterfront neighborhood.
A Portland Police Bureau spokesperson said the activity was not related to immigration enforcement but was tied to a fraud case.
The U.S. Postal Inspection Service said the warrants were carried out in the vicinity of South River Parkway in Portland on the morning of Aug. 18 with assistance from the Portland Police Bureau. Officials said no additional information was available.
Police activity was seen at the Willamette Towers Apartments in the area, where officers were positioned around the building and…
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