WASHINGTON, D.C. — Today, U.S. Representatives María Elvira Salazar (R-FL-27) and Sean Casten (D-IL-06) introduced the Stop Crypto ATM Scams Act, bipartisan legislation to strengthen consumer protections, combat fraud, and help ensure that criminals using cryptocurrency ATMs to target seniors and other vulnerable Americans are held accountable.?
According to the FBI, Americans lost more than $333 million to crypto ATM scams in 2025, a 33 percent increase from the previous year. Older Americans are disproportionately affected. In reported cases where a victim’s age was known, individuals age 60 and older accounted for more than 85 percent of losses linked to crypto ATM fraud.
The Stop Crypto ATM Scams Act would establish new safeguards to help prevent fraud, strengthen transparency requirements for crypto ATM operators, and provide law enforcement with additional tools to investigate…
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