A Dunedin businessman who provided financial advisory services has entered no plea to charges brought by the Serious Fraud Office.
The SFO alleges Barry Edward Kloogh (57), who appeared in the Dunedin District Court today, defrauded investors of at least $15.7 million.
Mr Kloogh faces representative charges of ‘False accounting’, ‘False statement by promoters’, ‘Theft by person in special relationship’ and ‘Obtaining by deception’. He also faces individual charges of ‘Forgery’, ‘Theft by person in special relationship’ and ‘Obtaining by deception’.
Mr Kloogh provided his financial advisory services through several companies of which he was the sole director and shareholder. He had approximately 2000 active clients in May 2019.
The defendant was remanded without plea to reappear in the Dunedin District Court on 12 March.
The Financial Markets Authority referred the matter to the SFO and assisted the agency in its investigation.
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