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RAM’s David Ross charged over alleged $400 mln Ponzi scheme
June 13 (BusinessDesk) - Failed fund manager David Ross of Ross Asset Management has been charged with running a $400 million Ponzi scheme by the Serious Fraud Office. The Wellington-based financial adviser faces four charges of false accounting under the Crimes Act and one cha...
UPDATED RBNZ to keep OCR on hold this year, repeats view kiwi ‘overvalued’
By Paul McBeth June 13 (BusinessDesk) – Reserve Bank governor Graeme Wheeler said he’s likely to keep the official cash rate at 2.5 percent through 2013, repeating his view that the kiwi dollar is overvalued and that he stands ready to intervene again if needed. The central ban...
Pyne Gould says FY profit to be about $30 mln after asset sales
June 13 (BusinessDesk) - Pyne Gould, the asset management firm controlled by George Kerr, says it will return to profit this year on gains from assets sales after an impairment-driven loss in 2012. Profit will be about $30 million in the year ending June 30, from a loss of $47....
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