platinum forex ponzi scheme

Shadows of Faith and Finance: The Story of Platinum Forex and Its Lessons

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The Platinum Forex scam in South Africa tricked many people by promising big monthly profits, but it was really a Ponzi scheme that used new investors’ money to pay old ones. Led by a trusted pastor, the scam mixed faith with finance, making people believe their savings were safe. When the scheme collapsed, investors lost millions, and many faced deep personal and financial pain. The case showed how important it is to be careful with money, ask questions, and have strong rules to stop fraud. It’s a powerful reminder that trust can be broken easily and must be protected.

bhi trust ponzi scheme

The BHI Trust Ponzi Scheme: A Saga of Financial Deceit and Systemic Failures

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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.

diamond trade ponzi scheme

A Twist in the Tale: The Saga of Louis Liebenberg

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Louis Liebenberg, the owner of diamond company Tariomix, has faced allegations of operating a Ponzi scheme, enticing investors with offers of diamond parcels that resulted in major losses. Tariomix has accumulated around R4 billion from investors and creditors and now faces liquidation. Liebenberg recently launched a political party called Herbou, campaigning for economic reform and the transfer of mineral wealth to citizens. Despite the turmoil, Cape Town continues to thrive, offering attractive deals on cars under R100 000 to locals and tourists.