Former National Finance director Trevor Allan Ludlow has been refused bail pending an appeal against his six years and four months' prison sentence and some of his convictions.
In a decision issued today, the Court of Appeal said Ludlow was convicted of offending involving significant dishonesty and that he had taken $3.7 million from National Finance. Even after liquidation, the unrecovered amount was $2.9m.
The court said there was nothing about the merits of the appeals against either conviction or sentence which persuaded the three judges that bail was needed in the interests of justice.
His appeals are due for hearing in the early part of next year.
As it stands Ludlow will be eligible to be considered for parole in early 2014.
- (Live Matches)