News

SFO raids office of Dunedin adviser

The Serious Fraud Office, with the assistance of the Financial Markets Authority, has executed search warrants on Thursday in relation to an investigation concerning the Dunedin-based financial adviser.

Friday, May 24th 2019

They raided the offices of Barry Kloogh who is the chief executive officer of financial advice company Breathe Financial.

The action followed enquiries by the FMA, leading to a referral to the SFO, a joint statement from the agencies said.

The authority would be assessing any matters relating to the Financial Advisers Act and supporting the SFO investigation.

They asked anyone with information they consider might be relevant to this investigation to contact the SFO either by phone: 0800 109 800 or email: kloogh@sfo.govt.nz.


The authority was working to secure and preserve client funds, it said.

It appears from the Breathe website that the company's main activity was mortgage advice and helping clients repay their loans faster. Kloogh is credited as being the creator of the DebtBreaker System, an at-home software program designed to help people get out of debt and boost savings.

TMMOnline understand Kloogh was previously with NZ Home Loans.

Comments

No comments yet

Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

More Stories

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Interest rate expectations: It’s not over yet

Thursday, March 07th 2024

Interest rate expectations: It’s not over yet

Most Kiwis think interest rate increases have peaked.