RAM funds spent on BMW, booze, court told

Tue, 03 Mar 2020

ANZ Bank oversaw payments from Ross Asset Management’s client account which paid for a BMW, wages, ACC levies and other office expenses such as alcohol, the High Court at Wellington heard. Justin Smith QC is representing more than 500 former investors who are claiming $80 million from David Ross’s former bank, ANZ. He told the court the bank dishonestly assisted RAM and was negligent. Today, Smith listed various payments that the claimants say show the bank dishonestly aided Ross, including overseeing payments from its trust account f...

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