Kloogh investors told they will only get 2c in the $1 back
Kloogh was sentenced to eight years and 10 months’ jail in July 2020.
He admitted 11 representative charges, including obtaining by deception, forgery, theft by a person in a special relationship and issuing false statements. Investors had about $16 million in the scheme.
His firm, Financial Planning Ltd, and Impact Enterprises Ltd, were placed into liquidation in 2019.
The latest six-monthly liquidator’s report by the Official Assignee noted that $430,564.50 that had previously been held in trust had been recovered. But it said that was a fraction of what investors were owed.
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