đź”’ Boardroom Talk – Craig Warriner, financial predator’s circle of influence was Sandton’s St Stithians

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By Alec Hogg

My life is full of scoundrels at the moment. As details emerge about the extravagant Craig Warriner, so too does information about the Ponzi scheme operator’s modus operandi. A picture is forming of a financial predator who deeply infiltrated Johannesburg’s private school, St Stithians, where he matriculated in 1982.

Warriner, an above-average swimmer in his youth, was described to me as a typical schoolyard bully. After completing national service, he became an insurance salesman at Liberty Life before starting his own financial advisory business—and subsequently the BHI Trust, which is at the centre of the scandal.

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The fraudster endeared himself to his alma mater through massive donations, including funding its One & All Club, which insiders tell me cost at least R5 million to build in 2009. Warriner, a past chairman of the school’s Old Boys’ Association, used the club as his hunting ground. He further expanded his circle of influence at St Stithians through funding rugby bursaries and scholarships.

While those who entrusted their funds to Warriner remain hopeful that some assets are still left in the trust—considering the money he donated to Saints, his Ferraris, and his private jet—they should also consider that the R3 billion he amassed could be largely gone. Financial market insiders explain that leveraging loss-making day-trading positions can literally make billions disappear. For more detail on the Warriner scandal, visit BizNews: Click here for the story and Click here for my interview with David Shapiro.

Yesterday, we also reported a similarly shocking fraud perpetrated against one of the heroes of the 1995 Springbok team that won the Rugby World Cup. Hannes Strydom, the man who wore number five that day, is a pharmacist who built a successful, vertically integrated business with a wholesale arm and ten retail branches.

An internal criminal syndicate stole R50 million in prescription-only medicine and sold it to drug dealers. When Strydom confronted them, they audaciously “sold” the story to the Carte Blanche television show, which ran a 20 minute documentary portraying Strydom as the criminal.

Strydom called in Paul O’Sullivan to investigate. The tables have now well and truly turned. Click here.

It never rains…..

Sterkte

Alec

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