By Hamish Fletcher
There may be even less money available for Ross Asset Management’s bewildered investors than first thought, its receivers have warned.
Author Archives: admin
NBR: David Ross reveals compulsory treatment under Mental Health Act
Accused ponzi scheme operator David Ross was released from hospital late yesterday.
Mr Ross had been receiving compulsory treatment under the Mental Health Act in hospital for the past three weeks, according to a statement issued through law firm Chapman Tripp.
“During this time he has been unable to assist authorities,” Chapman Tripp says.
Interest.co.nz: David Ross to ‘cooperate fully’
David Ross to ‘cooperate fully’ with receiver, SFO & FMA probes into Ross Asset Management & the funds invested with it after release from hospital
Chapman Tripp Press Release
MEDIA STATEMENT FROM DAVID ROSS
November 22 2012
Ross Asset Management founder and director David Ross will cooperate fully with all inquiries into his company and the funds invested with it.
Mr Ross was released from hospital late yesterday. He has been receiving compulsory treatment under the Mental Health Act in hospital for the past three weeks. During this time he has been unable to assist authorities.
Through his lawyers, Mr Ross has now undertaken to cooperate fully with the Financial Markets Authority (FMA), the receivers, and the Serious Fraud Office (SFO).
While these matters are the subject of official inquiries, Mr Ross and his family will be making no further comment.
NZ Herald: Financial advisor Ross out of hospital
Embattled Wellington financial advisor David Ross has been released from hospital.
According to a statement from law firm Chapman Tripp, which is acting for Ross, “he has been receiving compulsory treatment under the Mental Health Act in hospital for the past three weeks”.
Media Release: 21 November 2012
Ross Asset Management Investors Group
Palmerston North, New Zealand; Tel 06 357 1901
Mobile 027 437 9050, e-mail: bruce.tichbon@gmail.com
21 November 2012: For immediate release.
MEDIA RELEASE
The Ross Asset Management Investors Group will meet with the Financial Markets Authority (FMA) tomorrow (Thursday) to discuss issues of urgent concern relating to the collapse of Ross Asset Management Ltd.
NZ Herald: Ross investors might have to return money
By Hamish Fletcher
Liquidators could reclaim ‘inflated’ payouts from collapsed fund manager to redistribute.
Ross Asset Management investors who were paid out “inflated” returns by the collapsed Wellington fund manager could have their money taken back and redistributed by liquidators.
NZ Herald: Time to shine a light on DIMS
By David Chaplin
The wreck of Ross Asset Management (RAM) has highlighted some of the important differences between fully-regulated funds management products and other nebulous services operating on the legislative border.
SFO confirms investigation into Ross Asset Management
The Serious Fraud Office (SFO) today confirmed that it has commenced a formal investigation into David Ross, Ross Asset Management Limited (In Receivership) and associated entities.
In response to investor complaints, the Financial Markets Authority (FMA) opened an investigation into Wellington Financial Advisor, David Ross and firm Ross Asset Management on 25 October. A freeze was obtained on Mr Ross’ assets and John Fisk and David Bridgman from PricewaterhouseCoopers, were appointed as receivers and managers.
Interest.co.nz: SFO wades into Ross Asset Management
Serious Fraud Office to probe Ross Asset Management, David Ross and associated entities; Concerned with receiver’s Ponzi comparison