A man who knew David Ross for nearly 50 years and lost over $1.6 million he entrusted to him thinks any sentence Ross receives on Friday will ultimately be a waste of time. “John”, a 63-year-old from Christchurch who did not want to be named, went to high school with Ross, also 63, and has known Ross’ wife Jillian nearly all his life. Read More
Conman’s mansion on market
The man who has admitted running the largest fraudulent investment scheme in New Zealand history is selling his Lower Hutt mansion. Read More
Ross family trust handed to receivers
A family trust created by fraudster David Ross, in which his children are the beneficiaries of a large shareholding, has been handed to receivers PwC. Read more
Ross liquidator sees chance of clawback case
A potential test case which might claw back $3.8 million of investor money lost to New Zealand’s single biggest fraudster, David Ross, is waiting on one final response, says liquidator PricewaterhouseCoopers. Read More
Summary of Facts – from FMA
The FMA summary of facts for the charges laid by the FMA against David Ross can be viewed here
This material was part of the basis on which David Ross pleaded guilty on 29/8/13. The judge ordered that this summary of facts be made public.
David Ross Guilty Plea 29 August 2013
Media coverage of David Ross pleading guilty can be found below.
We commend you to listen and read the Radio NZ coverage It contains very good interviews with David Ross’s lawyer (Gary Turkington), Graham Gill of the SFO, Bruce Tichbon of RAMIG, and some very relevant comments by Barry Prince.
We commend you to listen to comments by Liquidator John Fisk here
Further comments here by investor Bev Nicholson (well done again), RAM Investors Group spokesperson Bruce Tichbon; and DLA Phillips Fox partner Iain Thain, a lawyer specialising in commercial litigation, regulatory issues and insolvency.
Other media articles follow:
David Ross pleads guilty to fraud
We want Ross ‘poor’ after jail, say ponzi victims
Ross’ Ponzi scheme cleaned out clients
David Ross SFO Charges
The charges from the SFO against David Ross are at the link below. The last charge shows that he is accused of operating a Ponzi at least as far back as October 2003. We are also seeking copies of the charges laid by the FMA.
Mountain Scene – Skint Queenstown widow rues trusting Ross ‘Ponzi’ scheme
Philip Chandler 16 May 2013
A blue-collar Wakatipu widow left skint by a recent half-billion dollar investment company collapse says she faces being a cleaning worker till she dies.
Kingston’s Bev Nicholson – the first local victim to speak out – says one-man-band David Ross, of Wellington, convinced her not to withdraw her investment after her partner passed away in 2009. Read more
Bernie Madoff tormented by son’s suicide
By BRUCE GOLDING New York Post Last Updated: 7:38 AM, May 17, 2013
The Ponzi monster is now tormented by his own demons.
In an interview from prison, Bernie Madoff said he’ll be forever haunted by the suicide of his oldest son, and he can’t sleep at night because he blames himself for the 2010 tragedy. Read more
See also: Prison exclusive: Bernie Madoff can’t sleep Read here
Radio NZ 20/5/13 – Could this be NZ’s biggest Ponzi scheme.
With Bruce Tichbon – Ross Asset Management Investors’ Group. Iain Thain – DLA Phillips Fox partner specialising in commercial litigation, regulatory issues and insolvency. Harry Markopolos – Former securities executive who exposed Ponzi billionaire Bernie Madoff. (34′16″) Click here to listen