Parole denied for Dunedin man behind $15.7 million Ponzi scheme

Thursday 3 July 2025 · 3 outlets · 3 reports · updated Thu 3 Jul 2025, 11:29am

In this story New Zealand Parole Board

The Parole Board has denied parole for Barry Kloogh, a Dunedin financial adviser jailed for running a $15.7 million Ponzi scheme. The board stated that Kloogh lacks insight into his crimes, which have reportedly wrecked the lives of many victims.

How they headlined it

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1. Otago Daily TimesThu 3 Jul 2025, 4:30am

   Ponzi scheme put down to ‘overconfidence’ (opens in new tab)

2. StuffThu 3 Jul 2025, 5:00am

   ‘Lives have been wrecked,’ Ponzi scheme architect Barry Kloogh told (opens in new tab)

3. RNZThu 3 Jul 2025, 11:29am

   Dunedin Ponzi scamster lacks insight into 'abhorrent' crimes (opens in new tab)