Ponzi scheme law proposal to protect investors

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Stuff 10 May 2018

Consumer Affairs minister Kris Faafoi has unveiled a proposal to make winding up Ponzi schemes fairer.

It was prompted by the lengthy court battle following the collapse of the Ross Asset Management (RAM) Ponzi scheme, which ended with some investors getting all their money back, while others face the grim prospect of getting back just a few cents in every dollar they invested.  Read More

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  3. NBR: Ross collected $30m in fees, giant ponzi scheme suspected
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  5. Ross victims face 97pc loss of funds