History revisited: Ponzi accomplice cheekily accused Investec of fraud for calling in loans


History revisited: Ponzi accomplice cheekily accused Investec of fraud for calling in loans

Tannenbaum’s top agent, Dean Rees, tried unsuccessfully to block bank’s R34m in mortgage claims by accusing it of devious dealing.

In June 2009 Noseweek was the first to expose Barry Tannenbaum’s R3-billion cash pyramid or Ponzi scheme – an illegal form of gambling.

The scheme generated a turnover of over R3bn (some estimates put it at double that), capping Brett Kebble’s massive gold share frauds.And the two main perpetrators, Tannenbaum himself and top accomplice Dean Rees, remain safely ensconced abroad – in Australia and Switzerland respectively – out of reach of South African law enforcement agencies.

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