June 23, 2021
Scam/Fraud

Jailed financial adviser Barry Kloogh’s lavish life roused suspicion – SFO

Business

Jailed financial advisor Barry Kloogh. Photo / ODT

A combination of Barry Kloogh’s lavish lifestyle and a suspicious accountant brought down Kloogh’s Ponzi scheme, the Serious Fraud Office (SFO) says.

It is the first time the SFO has confirmed details of how the fraudster was caught.

Kloogh, once a regular in many of Dunedin’s best restaurants and a devotee of expensive cars, had aspirations in early 2019 to buy one of the city’s most expensive private homes.

However, his Champagne tastes and beer income had alerted his accountants, who grew more and more concerned at what they viewed as a gulf…

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