Dominion Post OPINION: Terry Hall – Here’s how to make good money from a suspected Ponzi scheme. Invest early, take all dividends, and never put too much into it.
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Group Discussion #1: What expectations do you have for the Support Group ?
This discussion is an opportunity to have your say in how the Group should focus it’s activities. And also identify any resources, skills, or ides that may be useful in achieving a more beneficial outcome to this sorry affair.
So it’s over to you … please add your comments by clicking on the link Leave a Reply below.
NOTE: These comments are private to Group Members only.
Interest.co.nz: FMA boss Hughes says buck stops with him on RAM debacle
Financial Markets Authority (FMA) CEO Sean Hughes says he accepts the ultimate responsibility for the Ross Asset Management (RAM) debacle and the FMA is likely to seek law changes in the wake of it.
More to follow
3 News: Hubbard Investors Patience Wears Thin
A disturbing recent NZ example of how professional fees devour
investors savings. Of course the government collects GST on the
professional fees.
NZ Herald: FMA has eye on managers
Ross Asset collapse has highlighted the risks of controlling individuals’ investments.
The investment watchdog says it is taking a vigilant approach to financial advisers who manage their clients’ money on a discretionary basis since the Ross Asset Management collapse but can’t rule out other cases of poor management.
NZ Herald: Ross investors could face ‘terrible legal battle’
Investors in Ross Asset Management face a “gruesome legal fight” to recover their funds if investigations by regulators show fund principle David Ross was running a Ponzi scheme, says investor spokesman Bruce Tichbon.
Ross Asset Management in Mauritius and Bermuda
via the Tipline … it seems there are Ross Asset Management companies set up in Mauritius (2011) and Bermuda (1999).
Details below.
Ross Asset Management Limited (Mauritius)
- Company Number
- C101529
- Status
- Live
- Incorporation Date
- 22 March 2011 (over 1 year ago)
- Company Type
- LIMITED BY SHARES
- Jurisdiction
- Mauritius
- Registered Address
-
- 4TH FLR, EBENE SKIES, RUE DE L’INSTITUT, EBENE [ View on Google Maps ]
- Mauritius
- Registry Page
- https://mns-portal.intnet.mu/cbris-na…
-
ROSS ASSET MANAGEMENT LTD ( Bermuda ).
- Company Number
- 26226
- Incorporation Date
- 24 March 1999 (over 13 years ago)
- Jurisdiction
- Bermuda
Stuff: Minister wrong, says former commissioner
A former Securities Commission member says Commerce Minister Craig Foss is “looking in the wrong direction” in claiming Ross Asset Management has not demonstrated regulatory failure.
David Mayhew, the former Commissioner for Financial Advisers who is now a London-based barrister, said the regime authorising financial advisers – where attention on the Ross collapse has focused – was simply designed to ensure applicants were qualified. The problem was a lack of licensing and oversight.
Stuff: Govt ‘won’t act’ on Hubbard complaint
Hubbard investors’ complaint to the Government has failed to bring any action.
The Investor Liaison Group had complained to Commerce Minister Craig Foss and Attorney-General Lyn Provost about the conduct of statutory managers Grant Thornton.
The group hoped the complaint, which was signed by 230 investors, would prompt the Government to find an appropriate solution for all investors, while picking up the tab for management and legal costs, which have reached $12 million.
National Radio: Will Ross Asset Management investors ever get any of their money back
Bruce Tichbon speaks on behalf of investors in Ross Asset Management, who have lost millions of dollars in a suspected Ponzi scheme. (23′37″)