Photo: RNZ / Tess Brunton
The 57-year-old this week appealed his prison sentence, non-parole period and a $5 million reparation order imposed on him.
Kloogh was jailed for eight years and 10 months in July after defrauding dozens of investors of more than $15 million.
A minimum non-parole period of five years and four months was imposed.
He admitted 11 charges brought by the Serious Fraud Office in March.
Earlier this week his lawyer, Sarah Saunderson-Warner, argued the sentencing judge s starting point for her client s sentence was too high.
She also told the High Court Kloogh should have received greater credit for his co-operation with authorities and his victims once the offending was uncovered.