Fraudster fights ‘crushing’ sentence
The length of David Ross’ minimum non-parole period is “crushing”, says his lawyer, who has applied to the Court of Appeal for it to be reduced.
Anger from Ross’ out-of-pocket victims is still very raw as one of the country’s biggest fraudsters appealed against the minimum sentence he must serve in jail before becoming eligible for parole.
Ross, Wellington financier and former head of Ross Asset Management, was sentenced in the Wellington District Court last year to 10 years and 10 months’ jail.
The 63-year-old’s elaborate fraud, spanning 12 years, cost hundreds of investors their life savings and retirement funds.
In total, $115.5 million of investments is estimated to have been lost in the group, which folded last November.
A minimum non-parole period of five years and five months was imposed by the sentencing judge. Ross yesterday appealed against that minimum non-parole sentence in Wellington.
His lawyer, Gary Turkington, told the he submitted that the minimum non-parole term should go down to four years.
This was on the grounds that the original term was manifestly excessive.
“And that the personal circumstances of Mr Ross were that at age 64, five years five months minimum before he’s eligible for parole is crushing,” he said.
Justices Christine French, Jillian Mallon and Geoffrey Venning reserved their decision, Ross’ lawyer said.
A spokesman for Ross Asset Management Investors Group, Bruce Tichbon, said he had received emails expressing anger that victims could not counter-appeal for a longer sentence.