Dominion Post Last updated 14:31, March 23 2015
An investor in Ross Asset Management who invested $500,000 received almost as much back in fictitious profits, the High Court at Wellington heard on Monday. Read More
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Category Archives: Newspapers
Landmark Ross clawback case close – NBR March 20 2015
The hearing for the first claw back case is scheduled for 10 am 23 March 2015 in the High Court in Wellington.
Dom Post – Receiver chasing ‘over $25m’
February 2 2015 The receiver of Ross Asset Management is “reluctant” to put a number on the millions of dollars it is seeking to claw back from former investors. But the figure is “certainly” more than the previously reported $25 million, and could potentially result in a “substantial” sum. Read More
Dom Post – Ponzis square pegs in insolvency law’s round holes
January 21 2015 Opinion: It is about time New Zealand law caught up with the slippery nature – and beneficiaries – of ponzi crimes. Read More
Dom Post – David Ross victim shares fall further
January 16 2015 The value of a parcel of shares being sold for the benefit of fraudster David Ross’s victims has decreased by more than 70 per cent, with investors now only likely to receive about $50,000. Read More
NZ Herald – Ross ponzi investors get inquiry knock-back
Jan 5, 2015 Commerce Minister Paul Goldsmith has rejected a request from David Ross’ burned investors to look into the country’s claw-back regime as the first court case looms against those paid out by the fraudster. Read More
Dom Post – Fleeced Ross investors optimistic about claw-back moves
January 6 2015 – Those fleeced of about $115 million by Ross Asset Management may get a bigger payout than anticipated as receivers use two pieces of legislation to try to claw back millions of dollars from former investors. Read More
Dom Post – David Ross $220,000 legal bill ‘reasonable’
December 12 2014
An independent barrister has found David Ross’s $220,000 legal bill “reasonable”, after receivers had queried the figure.
The investigation and prosecution of Ross cost taxpayers about $100,000 in legal fees, not including “significant” staff time, at the Serious Fraud Office and Financial Markets Authority. The SFO had spent about $15,000 on external legal fees from August last year, while FMA’s bill had reached $84,000 since October, 2012. Read More
NZ Herald – Most pass financial advice test
5:00 AM Monday Nov 24, 2014
Market watchdog turns down only one applicant in two years since Ross debacle. Read More
Dom Post – Veil of secrecy shields shareholder
A high-profile Wellingtonian is involved in the company which the liquidators of Ross Asset Management are seeking to claw back $2.3 million from. Read more