A David Ross investor and the liquidators of the Wellington fraudster’s Ponzi scheme are both trying to take a clawback test case to the Supreme Court. Read More
Monthly Archives: June 2016
Court of Appeal rejects Wellington lawyer’s bid to keep profits from Ross ponzi
A Wellington’s barrister’s fight to keep fictitious profits from New Zealand’s largest ponzi scheme has been rejected by the Court of Appeal. Read More
Former Ross Asset Management clients agree settlements to avoid court
Three investors in New Zealand’s largest ever ponzi scheme have agreed to return fictitious profits to avoid being pursued through the courts. The latest liquidators’ report on Ross Asset Management revealed that three former investors had agreed to hand over $446,000. The money could eventually be returned to those who lost out in the scheme. Read More
‘Climate of legal secrecy’ keeping Ross Asset Management investors in the dark
A group of Ross Asset Management (RAM) victims are applying to the courts to obtain documents they say will lift the “veil of secrecy” surrounding liquidators’ claw backs from New Zealand’s largest Ponzi scheme. Read More.
Duncan Priest’s trading in RAM ‘concerning’, says expert witness
Duncan Priest’s apparent failure to follow NZX rules in his own personal share trading would be of concern, according to testimony by an expert witness in the former sharebroker’s fight to keep a $2 million share parcel from investors who lost their money in the Ross Asset Management fraud. Read More.
Ross Asset employees knew ‘all was not well’
Ross Asset Management employees knew “all was not well” with fraudster David Ross six months before the Financial Markets Authority swooped on New Zealand’s largest known Ponzi scheme. Read More
Ross Investors win tax refund ‘test case’
Ross Asset Management investors have claimed a “huge victory” after winning a tax refund test case against Inland Revenue, which could result in a “significant financial refund.”