Articles tagged with 'ponzi'

Kloogh investors told they will only get 2c in the $1 back

20 September 2023 - Investors who invested in Barry Kloogh’s Ponzi scheme have been told they can expect to only get about 2c in the dollar back.

Kloogh investors lose most of their money

13 March 2022 - Clients of disgraced financial planner Barry Kloogh are only likely to get back 2.5c for every dollar invested.

Majority of Ross Asset Management investors win bigger payout

7 January 2022 - Victims of the Ross Asset Management Ponzi scheme have won a court battle to get a bigger payout.

ANZ makes confidential deal with Ross victims

23 August 2021 - ANZ has made a deal to end a multi-million dollar lawsuit against it by victims of the Ross Asset Management ponzi scheme.

US fraudster dies in prison

15 April 2021 - Infamous US fraudster Bernie Madoff has died in a federal prison in North Carolina.

Ponzi perpetrator Barry Kloogh not forced to pay reparations

12 January 2021 - The former financial adviser who stole $15.7 million from his clients will not be forced to pay over $5 million in reparations.

Kloogh sentenced to prison

31 July 2020 - Former financial adviser Barry Kloogh has been sentenced to eight years and 10 months in prison.

Judge keeps Ross ponzi class action alive

6 May 2020 - The High Court at Wellington has declined ANZ Bank’s attempt to get a suit from more than 500 investors of failed Ross Asset Management thrown out early.

Kloogh gets sentencing date

30 April 2020 - One final charge against financial adviser Barry Kloogh has been withdrawn, meaning he will be sentenced at the end of July.

Financial adviser Barry Kloogh pleads guilty

12 March 2020 - Financial adviser Barry Kloogh has pleaded guilty.

Charges laid against Kloogh

20 February 2020 - Former financial adviser Barry Kloogh, who allegedly ran some type of Ponzi scheme, has appeared in court for the first time.

SFO starts investigation into East Wind

19 December 2019 - The Serious Fraud Office has commenced a formal investigation into suspected Ponzi scheme East Wind Company Ltd and its affiliated entities.

Ross parole: Investors emotional

16 December 2019 - An investor who was caught out by David Ross’ Ponzi scheme says people who were burnt by the fraudster will keep an eye on his post-prison lifestyle.

Ross investors seek $75 million from ANZ

3 December 2019 - Investors who lost money in Ross Asset Management are suing ANZ for more than $75 million.

Insolvency changes upset burnt investors

5 November 2019 - Investors who lose money in Ponzi schemes could find it harder to recover it under changes to insolvency laws announced by Government.

ANZ moves to defeat Ross Asset class action early

29 October 2019 - A date has been set for the first legal hurdle for Ross Asset Management investors in their class action against the ANZ Bank.

Kloogh liquidators trawling files back to 2012

3 October 2019 - Liquidators for financial adviser Barry Kloogh’s companies are considering whether the rights to his trail commissions could be sold to help recover money for creditors.

[The Wrap] Introducing the new type of financial adviser (Not)

23 August 2019 - One of the things which impacts on the standing of financial advisers is the dodgy people who pretend to be be advisers but work outside of the regulated market.

Ross victims get green light to sue ANZ

14 August 2019 - Ross Asset Management investors have been approved to start their class action claim against ANZ.

Ponzi scheme operator jailed

24 July 2019 - The Serious Fraud Office has secured a jail term for another ponzi scheme operator.

[The Wrap] Woes continue for ANZ

12 July 2019 - It seems problems keep mounting up for ANZ with news today investors in New Zealand's biggest ponzi scheme, Ross Asset Management, has started legal action against ANZ.

Jail for $5.4m Ponzi

13 October 2017 - Shane Richard Scott has been sentenced to four years, eight months’ imprisonment for operating a Ponzi scheme that caught out friends and investors. He...

FMA: Advisers can help clients avoid scams

6 October 2017 - Advisers have a key role to play in helping clients avoid scams, the Financial Markets Authority says.

$5.4m Ponzi admitted

6 September 2017 - New Zealand investors have lost $5.4 million in another Ponzi scheme.

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