400 Millionaires Defrauded
SA PIG | Noseweek
SA PIG | Noseweek
Noseweek.co.za Editor Martin Welz says their information shows that some 400 millionaires invested an estimated R2-billion and speculation that sums of up to R15bn are involved (gone up in such a short space of time?) with businessman Barry Tannenbaum, with the promise of great returns.Barry Tannenbaum, a grandson of one of the co-founders of Adcock Ingram, together with Johannesburg attorneys Dean Rees and Daryl Leigh, have been running a pyramid scheme promising massive returns on investments. Investors were told they would score between 15 and 20 percent in three months, and their money would be used to finance the import of chemicals which, among other things, were required for antiretroviral medicines for the treatment of HIV and Aids.
BARRY TANNENBAUM TAKES S.A. MILLIONAIRES FOR A R15 BILLION PONZI IN THE PARK
On Friday last week Johannesburg businessman Christopher Leppan applied to the Johannesburg High Court to have Barry Deon Tannenbaum, until recently of Rivonia, declared bankrupt.Barry is the famously pious son of Harold Tannenbaum, mega-rich founder of Adcock Ingram, South Africa's second-largest pharmaceutical company.
