A Dunedin man who ran a Ponzi scheme has admitted defrauding investors of almost 16 million dollars
A Dunedin man who ran a Ponzi scheme has admitted defrauding investors of almost 16 million dollars
12 March 2020
57-year-old Barry Kloogh pleaded guilty in the Dunedin District Court today - to all but one of the charges brought by the Serious Fraud Office.
As of May 2019, Kloogh had given financial advice to more than two-thousand active clients - and embezzled a lot of money from them.
She says many lost their retirement savings - and can't recover financially.
Kloogh will be sentenced on May 14.
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