The BHI Trust Ponzi scheme, led by Craig Warriner, tricked South African investors out of billions, promising huge returns before collapsing in 2023. Warriner was sentenced to 25 years in prison, but the scandal exposed serious flaws in the country’s financial oversight. Two financial advisors, Sona Pillay and Michael Haldane, who were initially arrested, had all charges dropped, angering the victims who lost their life savings. This shocking case highlights the urgent need for better regulations and accountability in South Africa’s financial system to protect people from future frauds.
