OPINION: With Kiwi David Ross's recent unsuccessful parole hearing, Ponzi schemes are back in the news. A Ponzi scheme is where people "invest" with a firm, but investments are never made. Effectively, people like Ross, take investors' money, live the high life and use money from new investors to repay existing investors. In fact, Ponzi schemes often start straight but turn crooked when their returns are poor. The Summer KiwiSaver Scheme is managed by Forsyth Barr Investment Management and a product disclosure statement is available on request.

Source: Stuff March 28, 2019 01:41 UTC