Kloogh not prepared to talk

Barry Kloogh

The Dunedin financial adviser - whose companies have been liquidated, owing $12.5million - was last night tracked down, living in a modest home in Fairfield, Dunedin.

Mr Kloogh answered a knock at the door, but emerged only long enough to tell the Otago Daily Times to leave.

''I can't talk with you,'' he said.

Asked if he could address even basic questions, Mr Kloogh replied: ''Sorry about that, mate - can you please leave?''

He gestured towards the street, where his blue, late-model Mercedes car was parked.

The exchange came after his companies - Financial Planning Ltd and Impact Enterprises Ltd - were placed in liquidation on August 29.

Mr Kloogh did not attend the liquidation hearing, nor did the companies, of which he was sole director, have any legal representation.

In an earlier ruling, Judge Dale Lester had said at least $8million of investors' money was unaccounted for, and that ''it appears that substantial funds have been used for personal expenditure by Mr Kloogh''.

No official tally of how many people and how much money is involved has been given, but the ODT has spoken to dozens of people affected, some of whom have substantial sums at stake.

Investors are still awaiting a report from interim liquidators Deloitte to shed light on how much they stand to lose.

The Serious Fraud Office executed search warrants on Mr Kloogh's premises in May 23 and is continuing to investigate. Mr Kloogh has not been charged with any offence.