McIntosh can keep $500k initial investment in RAM, must return 'profits', Supreme Court rules

Thu, 25 May 2017

By Jonathan Underhill May 26 (BusinessDesk) - Former Ross Asset Management investor Hamish McIntosh can keep the $500,000 he invested with the failed Ross Asset Management but must return the fictitious profits, the Supreme Court has ruled in a majority decision. McIntosh, a Wellington lawyer who represented himself in the appeal, invested $500,000 in RAM in April 2007 and gave notice in September 2011 that he wished to withdraw his funds. He was repaid $954,047 including returns of $454,047 that were actually funds syphoned from other...

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