RAM liquidator John Fisk states the ‘situation is dreadful for investors’ and talks of a return moving up to 25-30c in the dollar but dependent on many factors. He also states the recovered money”comes back into Ross Asset Management”. Listen here
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):
Investors in the failed Ross Asset Management have written to the Minister of Commerce, claiming weak regulations are stopping them from recovering more of their lost investments. Listen to Radio NZ Checkpoint here
Listen to Bruce Tichbon (RAMIG), followed by John Fisk (PwC). Contains some useful update information. Listen to the interviews (about 4 minutes duration).
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.
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.
Interview with Julie Read, new boss of the Serious Fraud Office. Julie it seems does not want to give a direct answer as to whether a FULL forensic audit has been done of David Ross’s activities, and whether there are any hidden funds. Listen here to the interview.
Coverage of the sentencing of David Ross 15 November 2013.
NZ Herald – David Ross gets 10 years, 10 months jail Read story
NBR – David Ross dished out record jail-time over Ponzi fraud Read story
Dominion Post – Fraud victims lash out at David Ross Read story
TVNZ One News View story
3News View story
Radio NZ Nine to Noon Listen
Radio NZ Checkpoint Listen
Radio NZ Checkpoint SFO response Listen PS we hope to meet with the SFO soon to discuss the points made here
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:
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