San Juan, Puerto Rico – The United States Attorney’s Office for the District of Puerto Rico has recovered over $4.1 million from four Puerto Rico pharmacies and their owners during the period from February 26 to May 28, 2026. The pharmacies and owners have agreed to pay $4.6 million to resolve allegation of Medicare and Medicaid fraud between January 2021 and January 2024, for billing for diverted prescriptions sold to unsuspecting patients which had been misrepresented as properly sourced, despite unverifiable origins. Officials warn that such practices threaten patient safety and the integrity of federal health programs, which require medications to come from approved distributors. Diverted drugs may be improperly stored or handled, affecting their safety and effectiveness.
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Action Details
- Date:June 4, 2026
- Agency:U.S. Attorney’s Office, District of…
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