Ross Group receivers hold out little hope for missing $439.4M

Thu, 15 Nov 2012

By Pattrick Smellie Nov. 14 (BusinessDesk) - Court-appointed receivers have found records for just $10.2 million of the $449.6 million in investments purportedly managed by Ross Asset Management, a boutique Wellington investment firm run by David Ross, who has been hospitalised since a Financial Markets Authority raid on his premises earlier this month. Preliminary investigations also suggests $60 million more was paid out by Ross to investors than was taken into his investment funds over the past five years to September, with a $24 million d...

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