David Ross sentenced to 10 years, 10 months jail over Ponzi scheme

Thu, 14 Nov 2013

By Paul McBeth Nov. 15 (BusinessDesk) - David Ross, the former manager of Ross Asset Management, has been sentenced to 10 years and 10 months after pleading guilty to charges that he ran a Ponzi scheme. He will spend at least half that time in jail. “The cold, hard reality is you were a liar and a thief,” Judge Denys Barry said in sentencing Ross in the Wellington District Court. The judge adopted a starting point of 16 years and discounted that to take into account the early guilty plea, offer of reparations and some degree of remorse....

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