Interest.co.nz: Ross Asset Management receivers PwC say can only find NZ$10m of investments

By Alex Tarrant

Returns reported for the supposed NZ$450 million Ross Asset Management ‘investment fund’ were likely exaggerated and possibly fictitious, while withdrawals by investors over the last five years appear to have been funded by contributions made by other investors, receivers PwC say, in language that hints at a Ponzi scheme.

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