A $8.3 million Ponzi schemer’s offer to pay reparation to his hundreds of victims – when he gets a chance – has been rejected with scepticism from the Crown and the judge.
A Christchurch man has admitted his role in an $8.3 million Ponzi scheme that drew in 900 investors.
Ponzi schemer Paul Clifford Hibbs has gone to jail for eight years for his $17.5 million frauds with victims still wondering if he has assets hidden away.
Liquidators of two companies run by Ponzi schemer Paul Clifford Hibbs want to have a say at his sentencing about efforts to recover any of the lost $17.5 million.
Paul Clifford Hibbs is in jail awaiting sentence after admitting running a Ponzi scheme that took $17.5 million – much of it from elderly victims.
A company being investigated by the Serious Fraud Office as a possible ponzi scheme has been placed in liquidation in the High Court at Christchurch.