David Ross pleads guilty to all charges, remanded in custody

Wed, 28 Aug 2013

Aug. 29 (BusinessDesk) – David Ross, former manager of Ross Asset Management, pleaded guilty to five charges laid by the Serious Fraud Office and three charges by the Financial Markets Authority in the Wellington District Court and has been remanded in custody. Ross faced four charges of false accounting and one of theft by a person in a special relationship. He had previously been charged on three counts in June. The SFO charges alleged that Ross conducted “a Ponzi scheme which he disguised by falsely reporting clients’ investments,” accord...

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