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
Dom Post – RAM liquidators seek to claw back $2.3 million
The liquidator of Ross Asset Management has made its first application to claw back $2.3 million from an investor who received payments in the three years before the companys collapse. Read More
TV3 Re-Think on Ross fraud and white collar crime
TV3 Re-Think has done a very good program on the Ross fraud and white collar crime in NZ. . It’s well worth a look for RAM and all other investors. View the program at this address (Episode 1 EP33 on 9 November 2014):
David Ross victims want rule change – Dom Post
Victims of fraudster David Ross, who are looking at a return of less than 3 cents in the dollar, are calling for a finance industry fidelity fund to help unwind frauds and failures.
The investors say fraudsters like Ross are no longer the problem, with the country’s “unfair and ineffective” regulatory environment ensuring investors are “robbed a second time”