Clawback 'not enough'

RAM’s liquidator indicated in liquidation reports that plans to pursue claims against three investors who withdrew $3.8m in fictitious profits could be just the start.

It was suggested that there could be $20 million to $25 million clawed back from investors who received payouts in the two years before the scheme was uncovered.

In that period, it is believed that 200 investors made money and 600 lost.

David Ross pleaded guilty last year to fraud and was sentenced to 10 years and 10 months' in prison for stealing $115 million from 700 investors.