Ponzi schemer Ross to challenge 10 year, 10 month sentence report

Mon, 16 Dec 2013

Dec. 16 (BusinessDesk) – Convicted Ponzi scheme perpetrator David Ross is to appeal against his sentence of 10 years and 10 months, claiming it is “manifestly excessive”. Fairfax Media reports confirmation of the appeal from Ross’s Wellington barrister, Gary Turkington, who did not immediately return calls for confirmation. Wellington-based Ross built up a private investment service by word of mouth, producing regular reports for shareholders indicating healthy but fictitious returns. A spokesman for some 1,200 investors defrauded of around...

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