The Supreme Court found the purpose of an interest award wasn't punitive.
Ponzi scheme 'winners' have until July 21 to pay reduced sum, or face litigation.
“I don't understand why they're going after the investors for money. It's not their fault. How about going after the outfit that licenced him to operate – the FMA?”
McIntosh, a Wellington lawyer who represented himself in the appeal, invested $500,000 in RAM in April 2007.