NEWYou can now listen to Fox News articles!
Despite Minnesota’s fraud scandal exploding onto the national scene and costing taxpayers billions, there are growing concerns that the state has still not done what’s necessary to root out the problem.
“We have not slowed down, there is no sense in which the fraud has been stopped in Minnesota,” Bill Glahn, a policy fellow at the Center of the American Experiment, told Fox News Digital.
Glahn has been warning on social media that Minnesota’s rapid growth in provisional assisted-living licenses, most for small facilities, may be outpacing state oversight. In a recent article, Glahn explained the state’s licensing database showed 364 new facilities with provisional licenses popping up over the past year and called for a 90-day moratorium on new licenses while officials investigate.
“We have something along the order of 2,500 of these licensed…
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