Investors Ask Court to Rule Long Sentence for Ross
Wellington District Court today heard 63-year-old David Robert Gilmour Ross making a clean breast that all accusations placed by the Financial Markets Authority (FMA) and Serious Fraud Office (SFO) were true.
The report found that he came clean that summary charges were also correct.
Now, people conned by him have been urging the court to send the former financial advisor on a long-term sentence. The man is at a $380 million fraud's center. The case is being claimed to be amongst the biggest fraud cases of the nation.
Comparing the case with Bernard Madoff from America, Investor Barry Prince said that Ross deserved to get a long imprisonment. Madoff had fleeced investors of an amount of nearly US$18 billion. For the same, he faced a sentence of 150 years.
Mr. Prince said that it was nice to see Ross thrown off into custody. However, Ross had admitted his guilt. But, the actual work was now to start.
Barry Jordan, Deloitte forensic accountant, said that the missing money was probably in offshore accounts.
"The problem is we need to get the money back. Tens of millions of dollars have been stolen and it's now going to be a real problem for the investors", affirmed Mr. Prince.
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