O, Tannenbaum


O, Tannenbaum

The gold waren’t in them thar pills.

How Barry Tannenbaum and Dean Rees exploited the rich seams of human greed and gullibility.

What is quite clear from emails between them is that Rees knew exactly what he was involved in from the start.

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Submitted by : Alan Egner of Gaborone on 2009-12-02 10:24:39
It appears from the article that Reese was the main beneficiary of the scam and that Tannenbaum was just a flunky. Reese seems to have pocketed the lions share of the money while passing all the risk to his erstwhile buddy.

As for the due diligence conducted on behalf of Barwa, one wonders who the professionals were that gave this scheme a green light. Presumably they are slightly embarrased but considerably better off for their dodgy advice.

Editor's Note
On hindsight, what exactly was Barwa investing in? Some substandard cocktail for some developing countries! They could all have gotten what they deserved. How much can we trust the drugs manufactured from these cocktails?

On who conducted due diligence: http://www.noseweek.co.za/article.php?current_article=1912
 
Submitted by : John Louw of Johannesburg on 2009-12-01 11:35:01
Just a drop in the ocean compared to Brett Kebble-no special task force pursuing his legacy! SA's biggest fraud story is simply passing everyone by. There will be no prosecutions and that's guaranteed. Good luck to those who bid and win at the upcoming Boschendal auction. You will all be the proud owners of stolen property.
 
Submitted by : Jeffrey Cheek of FAERIE GLEN on 2009-11-28 10:55:44
The sheer scale of fraud on which these guys operated beggars belief.
Kick-ass article, guys !
 
Submitted by : Reon De Reuck of Little Falls on 2009-11-28 07:30:51
How is it possible that all this money went through Investec and they didn't report it to SARS or the Reserve Bank? The R2500 for the domestic blows my hair back and he only had one domestic, where was the butler?
 
Submitted by : Patrick Seeton of NAPIER on 2009-11-27 14:00:04
If I were Mr T-baby or (what's up) Doc I would be running scared, very scared in a world full of so many fanatics and fools.

Editor's Note
The last Mr. Nose heard from Australia was that he had gone into hiding as several Macho-Drivers had invaded his neighbourhood.
 
Submitted by : Steven Cohen of Johannesburg on 2009-11-27 10:55:20
I'm just interested - what is going to happen to the guys who did make loads of money thru the scheme i.e. the guys who had to be "kept happy" - presumably so that they could be reference points for future inverstors/suckers?

Editor's Note
Most likely they would have some sort of plea-bargain with various law enforcement agencies. After all do the wealthy ever get prosecuted!

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