Magnus Heystek on BHI Ponzi “life sentences” for two financial advisors
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- Опубликовано: 2 окт 2024
- In the past year, South Africa’s Financial Sector Conduct Authority (FSCI) has debarred 156 people from the industry. In this interview with BizNews, investment strategist Magnus Heystek of Brenthurst Wealth comments on these debarment orders, including the 30-year-ones served on Michael Haldane - who is on bail on charges of fraud and money laundering in connection with the BHI Trust Ponzi, and his colleague Mauro Forlin. “…it looks like the FSCI has thrown the book at the guys that were involved in the BHI Trust…to debar someone for 30 years is effectively…a life sentence. In effect, they'll never work in the industry again. And I think it reveals that the BHI Trust and the individuals involved in that…were very naughty guys. They've been stealing and siphoning money for many, many years. And I'm just surprised that it took so long for this scheme to be exposed.” Heystek also speaks about how financial regulation has improved dramatically over the past decades, but says the financial system is under pressure to improve it even more because “as we currently speak, many institutions are very hesitant to deal with South African money”.
Video production by Ruan Erasmus
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Which almost guaranteed fund in SA gives between 10 and 15 percent p.a? 06:16 Magnus has been smoking his socks.
Pity the Anc's and associated mafias don't get arrested; not even the Zonda commission could put them behind bars😢
But think about white collar crime not reported 😂
@@GoforiGugu "But think about white collar crime not reported" and which is millions and millions because of a fucked up judiciary.
@@GoforiGugu Zonda commission cost taxpayers billions; trillions of gold bars looted from reserve bank since mandela took over; should these billions from Dubai not return to SA; watch the gold mafia 4 episodes; 1 episode pipeline of rhino horn; so few white tax left in SA with 165 race laws; 🐝 mafia; affirmative action whilst billion dollar taxi funded with billions pay zero tax; Indians; Arabs; Chinese; foreigners are taking over SA; pay zero tax; what's wrong with the hatred; envy; jealousy of the white man; SA were build over a period of 400 years with no black tax; don't you think it is time they pay tax after being funded with billions?
Chain gang
@@steveleroux6116 China town
Amazing that the FSCA only started doing something in the last year 😡
Greed, stupidity and unbelievable naivety, a deadly combo.
Yip. Spot on.
Bhi "trust" is an oxymoron. It would be good to get magnus take on sharemax debacle. Its a terrible loss for a few thousand investors. Many of them have died and their heirs are waiting for resolution....
Sharemax was nie n ponzi nie maar is gekelder deur die Reserwe Bank en 2 persone daar. Daar is nog steeds n regstryd aan om verantwoordelikes aan die mante bring. En terloops ons mense wat ons geld daar belè het het dit deur wettige makelaars gedoen. Die makelaar wat my gehelp het het by Absa gewerk en werk nog steeds as n makelaar by n groot besigheid. Dit is nou al jare en die 2 persone wat toe die Nova mastskappy beheer het het gemaak wat hul wil met die vele eiendomme en geld terwyl ons as pensioenarisse vandag swaarkry. Hopenlik kom daar nou vinnig n antwoord en kan ons ons geld terugkry!!
“Naughty guys” is an understatement.They are criminals.
My thoughts exactly ........fraudsters MH shouldn't minimize it naughty guys. Seriously ?
Time to get Fdg of Louis Liebenberg and his associates behind bars
I am sure the cabal is protecting each other.
It is the FSCA (Financial Sector Conduct Authority) not the FSCI.
Thank you for valuable information. Please can you get information about Tether the newest crypto currency and what it is exactly.
There is a very fine line between a participant and a victim... When the money is flowing it's easy for a participant but the moment it turns belly up, now I'm a victim...
SARS will get you.
Hi Magnus Always good to get your opinion on financial matters, best wishes Errol
People need to respect the need for tax to be paid however our judiciary system needs to nail those corrupt, the Municipalities and the Vity manager must be held to account for sound governance and service delivery so tarrifs, rates and tax dont spiral out of proportion where the contry ends up relying on the few who can affor and those who pay to carry the millions looking for a habd out because Goverment are incapable of ensuring a sound developing economy and provide jobs for all so all can contribute.
Stupid people who invest in these schemes need to feel the pinch for being stupid in the first place to a point.
Please check the volume control. - Your music is loading, and the volume of your chat show is too low!! I cannot hear you.
Magnus is spot-on. How come such financial advisors got away with it - it was a known fact + coenraad thought he got away with it.