Did Investment Advisor Steal $ 16 Million Buy Bitcoin?


Barry Kloogh, an investment advisor who stole $ 16 million from his clients and was sentenced to eight years and ten months in prison, claimed that he bought Bitcoin and provided BTC services to some of his clients. According to the statements, Kloogh sees BTC as a potential investment tool.

Someone who has known Barry Kloogh for a while gave Stuff some information about Kloogh. He told Kloogh that he invested in Bitcoin and his return was incredibly good. Kloogh was curious about BTC and offered to help him invest in crypto money, but he rejected this offer. So what exactly did Barry Kloogh do to his customers, who became interested in Bitcoin and was in jail?

The story of the chain of happiness

Barry Kloogh, 57, has provided financial services since 1983, according to Stuff. In 2019, he worked as an investment advisor in Dunedin, New Zealand. It had 2 thousand customers at that time. Kloogh deceived his customers by distributing his book The Money Cookbook in free meal vouchers and seminars. Those who received consultancy services from Kloogh lost up to their retirement money. Authorities revealed that the money stolen from customers dates back to 2012.

Known for his fondness for luxury cars, Kloogh bought houses and cars during all these activities. Barry appeared on court and admitted that he stole $ 16 million. Kloogh; He was sentenced to eight years and ten months in prison for many crimes such as misrepresentation, forgery and theft. He lost his home and two cars along with the penalties.

It is not clear where the coins are going

Some customers said they gave Barry thousands of dollars, but they don’t know where the money went. In a report, it was stated that Barry bought a house and a car with the money he stole, and at the same time, his two companies had $ 13,500. An official said Bitcoin was not included as part of the charges against Barry. Svetlana, Kloogh’s wife, asked questions about Bitcoin, “I don’t want to talk about it.” gave the answer.

In this case, it could be said that Barry has potentially invested the money he received in Bitcoin.


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