Rep. Harris’ plan cracking down on gift card fraud becomes law
Michigan families will be better protected from gift card scams, thanks to a new law spearheaded by Rep. Mike Harris.
Harris, R-Waterford, led the bipartisan effort to create stronger penalties for a growing problem that has cost consumers and retailers millions of dollars.
“When someone spends their hard-earned money on a gift card for a family member or friend, they should be able to trust that the money will be there when it’s time to use it,” said Harris, R-Waterford. “This new law provides a real solution to a growing problem. It gives law enforcement and prosecutors stronger tools to crack down on organized criminals who are stealing from Michigan families.”
Harris, a retired police sergeant, worked with state Rep. Samantha Steckloff, D-Farmington Hills, on the bipartisan legislation after hearing…
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