This article by an independent liquidator is very insightful. It seems strange that the authorities charged with cleaning up this mess do not seem to be so frank and forthright, despite the large sums we creditors have to pay for their services.
Read article here. The article is on pages 4 and 5.
The Marquet Report on Ponzi Schemes provides some useful information and understanding of Ponzi schemes in the United States. You can download a copy of the report here.
The Financial Advisers Disciplinary Committee (FADC) has dismissed a Financial Markets Authority (FMA) complaint against convicted fraudster David Ross. Read More
Listen to Brent Gilchrist, tax expert, on the unfairness of Ross investors being required to pay tax for having their money stolen. The part on the Ross ponzi starts about 19.5 minutes into the session. Listen here.
Swindled David Ross investors are considering legal action over “paying tax for being robbed”. Read More.
Listen to Professor Melissa Baucus (based at Otago University) on trying to understand Ponzi schemes in NZ and USA, particularly Ross and Madoff. Listen here.
The bank that did most of the banking transactions for the Madoff ponzi in the US has been fined $2 billion for failing to act. Yet as far as we know, no action or investigation of Ross’s bank has been undertaken here in NZ. We find this very strange, considering NZ has strict anti money laundering laws. Read about the US case here.
Three investors who received a collective $3.8 million from fraudster David Ross’ Ponzi scheme in the two years before it collapsed have been asked to give the money back. Read More.
One of Ponzi fraudster David Ross’ last investments before being shut down is showing a profit of more than 100 per cent, but its ownership is in dispute. Read More
David Ross’s appeal against his jail sentence has been labelled a “poke in the eye” to the 700 plus investors he stole about $115 million from. Read More