High Court imposes record bans on Ponzi scheme operator and partner

Thu, 09 May 2019

By Jenny Ruth May 9 (BusinessDesk) - The High Court has permanently prohibited convicted Ponzi scheme operator Lance Jared Ryan from managing a company and banned his former co-defendant David Blake for 12 years. The Ministry of Business, Innovation and Employment says these are the two longest bans ever imposed under the Companies Act 1993 and can only end with the consent of the High Court. In July last year, Ryan was sentenced to seven years and six months' imprisonment, which in December was reduced to six years, for running Arena...

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