McIntosh must pay almost 5 years of interest on Ross Asset 'profits', court rules

Thu, 31 Aug 2017

By Jonathan Underhill Sept. 1 (BusinessDesk) - Wellington lawyer Hamish McIntosh must pay interest on the fictitious profits he received from Ross Asset Management, New Zealand's biggest-ever Ponzi scheme, the Supreme Court has ruled. The ruling on costs follows the Supreme Court's May 26 judgment that McIntosh could keep the $500,000 of principal he invested in Ross Asset Management but must return the $454,047.62 of fake profits to the liquidators, PwC's John Fisk and David Bridgman. In the July 31 decision of Justices William Young,...

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