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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Law
5 mins to read

Booze, BMW and staff wages paid for out of ponzi scheme's client fund

The ANZ Bank is seeking to have the class action by Ross Asset Management investors struck out.

Julie Iles Tue, 03 Mar 2020

ANZ Bank is accused of turning a blind eye as withdrawals flowed from Ross Asset Management’s client account to pay for a BMW, ACC levies, an $8000 credit card payment and office expenses including staff wages and large quantities of booze, the High Court of Wellington heard today.

ANZ was

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Booze, BMW and staff wages paid for out of ponzi scheme's client fund
Law,
82771
true