One News: SFO begins investigation into fund manager

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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