RAM investor McIntosh allowed to keep principal, not fictitious profits: Appeal Court

Wed, 16 Mar 2016

By Paul McBeth March 16 (BusinessDesk) - The Court of Appeal will let Ross Asset Management investor Hamish McIntosh keep the $500,000 he managed to extract from the Ponzi scheme before its failure, but not the fictitious profits he earned. Justices Rhys Harrison, Christine French and Forrest Miller dismissed McIntosh's bid to hold on to the $454,000 return he received when he withdrew almost $1 million from RAM before it collapsed, which he claimed he was entitled to keep because without it, he wouldn't have pursued a speculative proper...

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