BHI Ponzi: Global & Local files criminal charges against Warriner & probes the “ultimate fate” of investments

By Chris Steyn

Global & Local The Investment Experts have broken their silence on the BHI Ponzi scheme that has lost billions of investors’ money.

This after several investors claimed to have been introduced to the BHI Trust by Global & Local.

The financial scandal broke after BHI trustee Craig Warriner handed himself over to police on charges of theft and fraud. BHI has now been sequestrated.

The letter from Global and Local Founder was signed by Senior Investment Advisor Michael Haldane.

Addressing clients, he wrote: “Like you, we have, over the past week, become aware of the disturbing media reports and revelations regarding Mr. Craig Warriner and the BHI Trust. The allegations against Mr.Craig Warriner and the BHI Trust concern us, not just because of the uncertainty it has created for you, our valued clients, but also for many of our team members and their families, who have also invested their own personal funds with the BHI Trust.

“At the outset, we wish to indicate our shock and disbelief regarding the nature and character of the content of these media reports. Over the past two decades, the BHI Trust has proven to be a reliable and profitable investment option for our valuable clients, our families and us. All of us have not only seen significant and sustainable growth in our investments with BHI Trust but have also been able to consistently access and make use of those funds as and when necessary. Until now, we have had no reason to suspect any unlawfulness regarding the BHI Trust.

“In order to guide us during this period of uncertainty, we have retained legal counsel, and have requested that they assist us in identifying the most practical next steps available to both our clients and us in respect of our investments with the BHI Trust. We are currently advised that at this early stage, it is difficult for us to accurately predict these next steps. To this end, we undertake to make regular contact with you to keep you appraised of any developments in the legal process.

“To date, we can confirm that we have lodged criminal charges against Mr. Craig Warriner, based on the allegations in the several media reports that have come to our attention. We are also in the process of conducting an investigation to determine the ultimate fate of your and our investments in the BHI Trust, with a view of potentially instituting civil proceedings (if so advised in due course once we are appraised of all of the facts) and filing regulatory complaints against the BHI Trust and Mr. Craig Warriner with industry regulators, such as the FSCA, if so advised.

“Depending on the advice of our legal counsel, these civil proceedings may include intervention in the pending sequestration proceedings that have been instituted against the BHI Trust and Mr. Craig Warriner, and in due course participating in any interrogations and insolvency enquiries. This involvement – we hope – will assist in unravelling the facts, leading to proceedings for the recovery of those investments. This, we are advised, is a long-term process, and is something that we will be in contact about as and when developments occur.
“We understand that the current situation has been immensely stressful to you, as it has been to us. We assure you that we are exhausting all avenues to find a way to resolve this situation in the most efficient and beneficial manner possible.

“We promise to communicate with you regarding any further developments, as and when they happen.”