PROJECT: PONZI SCHEME MASTERMIND, WILLEM STEENKAMP DIES IN MALAWI (PART 1)

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Apr 9
4 min read

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Specialised Security Services has received irrefutable information confirming that Mr. Willem Steenkamp,

the notorious mastermind behind several international Ponzi schemes, has died of natural causes

at his private residence in Malawi on 1 April 2025.

SSS repeatedly issued public warnings about Mr. Willem Steenkamp's fraudulent activities

before he was eventually listed on Interpol’s Red Notice as one of the most wanted international financial criminals.

Read our past projects for more context regarding Mr. Steenkamp and his numerous schemes:

Mr. Willem Steenkamp, also known as Dr. William Bilderberg, was a South African national notorious for orchestrating extensive Ponzi schemes across multiple countries, including Venezuela, Botswana, and Tanzania.

He attempted to transfer $250 million into a local bank account in Malawi, raising significant concerns.

Mr. Steenkamp reportedly acquired a Malawian passport through dubious means and was out on bail despite facing charges of forgery, illegal entry, and money laundering. Unconfirmed reports are suggesting he had connections with influential figures both within and outside the government, which may have facilitated his activities and provided him with protection.

All accounts that were frozen and confiscated at the time of Mr. Steenkamp’s arrest and following his death in Malawi

are likely to be appropriated by the Malawian authorities, rather than being returned to

the many victims of his various Ponzi schemes.

While the exact total is still being investigated, preliminary estimates suggest that Mr. Willem Steenkamp got away with at least $250 million through his various Ponzi schemes, including the Wurban operation.

In Malawi alone, one frozen Ecobank account held $20 million, believed to be just a portion of the illicit funds.
Victims were spread across South Africa, Malawi, Venezuela, and other countries, with some individuals and small businesses reportedly losing life savings and retirement funds.
Given the scale of operations and the period - over a decade - authorities suspect multiple layers of laundering, with funds routed through offshore accounts, fake trusts, and front companies.

Investigators are still untangling the complex web of transactions.

The actual total may exceed $250 million, but much of it is hidden in untraceable investments,

shell companies, and possibly crypto assets.

Recovery of these funds is uncertain, though efforts are ongoing.

Some victims may never see full restitution.

Although Mr. Willem Steenkamp’s death ends his personal legal journey, the financial damage he caused remains unresolved.

Authorities in South Africa, Malawi, and Venezuela are now focusing on recovering stolen funds

and supporting the many defrauded victims.

This case stands as a stark reminder of the lasting harm caused by white-collar crime

and the importance of international cooperation in holding perpetrators accountable.

RELEVANT NEWS ARTICLES:

https://www.nyasatimes.com/a-week-of-silence-why-are-police-mute-on-the-death-of-fugitive-billionaire-willem-steenkamp/

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