Ross case adjourned
David Ross appeared in court briefly today.
Friday, July 5th 2013, 3:53PM
His case was adjourned to August 22, for substantive hearings on eight crimes and financial advisers act charges.
Ross faces charges relating to $384.8 million of assets, which court documents describe as the product of “fictitious transactions”.
It was revealed that the receivers for Ross Asset Management have sold just under $200,000 worth of paintings and are looking at other properties owned by the Ross family.
In a report on the Ross Asset Management liquidators’ committee meeting last month, PwC’s John Fisk said investors and creditors are expected to receive a net $4.2 million as he liquidates the share portfolio, valued at $5.9 million. About $1.5 million had been realised but there was a further $3.7 million to go, and proprietary claims of $993,000.
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