Chapman Tripp Press Release

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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.

Media Release: 21 November 2012

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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.

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SFO confirms investigation into Ross Asset Management

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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.

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One News: SFO begins investigation into fund manager

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The Serious Fraud Office (SFO) has begun an investigation into Wellington fund manager David Ross and his firm Ross Asset Management after court-appointed receivers found records for just $10.2 million of the $449.6 million he purportedly managed.

The SFO has been working with the Financial Markets Authority, which began its own investigation on October 25 and has since obtained a freeze on Ross’s assets.

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Stuff: Serious Fraud Office investigating Ross Asset Management

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The Serious Fraud Office is now conducting an investigation into Ross Asset Management, which is feared to be New Zealand’s largest ever Ponzi scheme.

Last month the Financial markets Authority won a freezing order over Ross and its founder David Ross, following complaints from investors unable to withdraw their money.

Acting SFO chief executive Simon McArley said the organisation had been working with the FMA over the last two weeks.

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