An investor in a ponzi scheme must pay back more than $100,000 in interest on top of the $450,000 already ordered to go back to the liquidators of fraudster David Ross’ collapsed company.
In May the Supreme Court ruled that former Ross Asset Management investor Hamish McIntosh can keep the $500,000 he invested with the failed ponzi scheme that but must return $454,047 in the fictitious profits from it.
McIntosh, a Wellington lawyer who represented himself, invested $500,000 in RAM in April 2007 and gave notice in September 2011 that he wished to withdraw his funds.
He was repaid $954,047 including returns of $454,047 that were actually funds syphoned from other investors’ deposits in what transpired to be New Zealand’s biggest po…
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