READ THE FINE PRINT: Magnus Heystek on one of SA’s biggest ever Ponzi schemes

Magnus Heystek of Brenthurst Wealth Management knew within minutes that the investment scheme that has lost investors billions was “rubbish” - and he was able to advise a client to pull R3 million to safety. That is revealed by Heystek in this interview with BizNews on one of South Africa’s biggest Ponzi schemes. Investors have been counting their losses ever since the scheme’s mastermind Craig Warriner - dubbed South Africa’s Bernie Madoff - handed himself over to police.  A court has now ordered the sequestration of the BHI Trust.  Heystek shares a copy of the BHI Trust and Plus application forms which clearly states under Terms and Conditions, Point 12: “The investor acknowledges that he understands that the investment is not registered under any law and is unregulated.” Heystek points out: “It says there clearly this is a very dangerous investment scheme.”