Disgraced Dunedin financial adviser Barry Kloogh's has been sentenced to eight-and-a-half years prison, with a minimum period of imprisonment of five years and four months. Some aspects of Kloogh's offending were "heinous'' and had an enormous impact on his victims, Judge Crosbie said. Judge Crosbie said a discount for good character was not appropriate, and the bare fact that Kloogh had attended restorative justice conferences did not automatically lead to discount for remorse. Kloogh's offending required sophistication and know-how, and he used the e-banking system to create false accounts and statements, she said. The group spokeswoman said today was a significant milestone, but the work of untangling Kloogh’s financial affairs would go on for years.

Source: Otago Daily Times July 31, 2020 01:30 UTC