Jailbird still operating

Former cellmate claims Warriner trades from his prison cell.

BHI Trust fraudster Craig Warriner has a phone in his cell, which he shares with about 35 other inmates, and continues to trade a portfolio worth north of R500 000.

That's according to former cellmate Jacobus van Rensburg, who contacted Moneyweb with an interesting story to tell.

He and Warriner shared a cell in the AI Section of "Sun City" prison for several months and spent many hours together. Van Rensburg, a chartered accountant, was arrested in April last year on an assault charge and was released in March, without being convicted - a false arrest which he intends to pursue in court.

Warriner turned himself over to police last October, admitting to running a Ponzi investment scheme for more than a decade.

He initially waived his right to apply for bail and asked for a single cell because he feared for his safety. He later changed his tune, lawyered up and applied for bailwhich was refused.

Last month he was sentenced to 25 years for fraud and operating an investment scheme without a licence.

Fear and sniggers

According to Van Rensburg, Warriner wanted a single cell because of threats to his life by one client who had invested R150 million and wanted his money back.

The smaller demands for repayment he could handle, but not a whale of this size, so he decided to throw himself at the mercy of the justice system.

In the prison yard, Van Rensburg tells us, Warriner would snigger at the press coverage on BHI Trust (he has internet access).

"They don't know the half of it," he told me. "He would brag to other inmates that he had stolen R3.3 billion and that some of the funds had not been tracked down."