The FSCA has barred Craig Warriner from BHI Trust for 30 years after investigating the conduct of the BHI Trust and Warriner between 7 February 2013 and 30 September 2023.
Therefore, they were therefore required to be authorised as a Category II FSP, but they were not, contravening section 7 of the Financial Advisory and Intermediaries Service Act. “You see, money goes in; I take it. People want money out, so I rob Peter to pay Paul. That is after 2008 and then what happens is that because you are showing decent returns, it becomes the Ponzi pyramid scheme … And the money comes in and it goes out.”
The focus of the FSCA investigation was on the activities of the BHI Trust and the possibility that it was conducting unauthorised financial services business and unauthorised collective investment scheme business.
Source: Loan Digest (loandigest.net)
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