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Charges dropped against two alleged kingpins of R2.7-billion Ponzi
In a move that has left over 1,000 defrauded investors furious, prosecutors have provisionally withdrawn charges against Michael Haldane and Sona Pillay, two financial advisors accused of playing a key role in the R2.7 billion BHI Trust Ponzi scheme.
Appearing in the Palm Ridge Magistrate’s Court last week, Haldane and Pillay were informed that the fraud, theft, and money laundering charges against them were being dropped—at least for now. This, according to advocate Nancy Pillay, is because the state needs more time for further investigation.
In a move that has left over 1,000 defrauded investors furious, prosecutors have provisionally withdrawn charges against Michael Haldane and Sona Pillay, two financial advisors accused of playing a key role in the R2.7 billion BHI Trust Ponzi scheme.
Appearing in the Palm Ridge Magistrate’s Court last week, Haldane and Pillay were informed that the fraud, theft, and money laundering charges against them were being dropped—at least for now. This, according to advocate Nancy Pillay, is because the state needs more time for further investigation.
