INVESTMENT SCHEMES - Tannenbaum admits fault

[Morticia]

In a damaging affidavit, Barry Tannenbaum has apparently admitted to fabricating documents to deceive Qatar-based real estate company Barwa.


This signed affidavit throws some light on the role that Tannenbaum played in an alleged Ponzi scheme believed to have taken at least R1,8bn from more than 400 investors. The affidavit is believed to form part of the application made by Barwa to freeze the worldwide assets of attorney Dean Rees, who has been accused of assisting Tannenbaum.

http://free.financialmail.co.za/09/0703/features/hfeat.htm

[Dave A]

That's rather obliging of Tannenbaum - or reading the full story, perhaps not.

Hard to trust any of those involved right now. Priority 1 must surely be trying to save their own necks, or as much of it as they can.

[Graeme]

As a journalist wrote when reporting on the Madoff business "if it seems too good to be true, it probably is."