David Ross dished out record jail-time over Ponzi fraud

Fri, 15 Nov 2013

By Paul McBeth Nov. 15 (BusinessDesk) - Disgraced fund manager David Ross faces the longest jail-term imposed by the courts for a case brought by the Serious Fraud Office for his long-running Ponzi scheme which the judge said was motivated by a “twisted form of vanity” rather than simply greed. Judge Denys Barry sentenced Ross to 10 years and 10 months imprisonment, with a minimum non-parole period of five years and five months, in the Wellington District Court today. Ross pleaded guilty to charges in August that he effectively ran a Ponzi...

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