Ross Asset investors face gruesome legal fight if Ponzi scheme shown

Mon, 03 Dec 2012

By Jonathan Underhill Dec. 4 (BusinessDesk) – Investors in Ross Asset Management face a “gruesome legal fight” to recover their funds if investigations by regulators show fund principle David Ross was running a Ponzi scheme, says investor spokesman Bruce Tichbon. The receivers of the Ross group yesterday applied to the High Court to liquidate the companies and a hearing date has been set for Dec. 17. Receivers have uncovered only about $11 million of the $449.6 million purported to be under management. Tichbon is among investors who put mon...

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