Million-dollar fraudster declined parole
A businessman who fleeced seven people of $1.3 million and is now teaching his fellow prisoners French will remain in jail for now.
Ian Ludwig appeared before the Parole Board in December after being jailed for four years and nine months on seven fraudrelated charges.
Ludwig, a franchisee of New Zealand Homes, convinced friends to invest but spent the money on gambling, properties and holidays.
At his sentencing, a victim, who worked in a war zone, said Ludwig had stolen her life savings and compared his offending to a rape. Another, who lost $400,000, said she felt ‘‘stupid and sucked in’’ by the man she once considered a friend.
His lawyer told the board his risk of reoffending was considered low. ‘‘Mr Ludwig wrote to the board, recognising his victims suffered huge losses,’’ according to the report. ‘‘Whilst he had did not go so far as to acknowledge in his written submissions that those losses were due to his deception and dishonesty, he frankly conceded that in the course of the hearing with us today.’’
But, declining his parole, the board said risk-management strategies were needed. He will be seen again in February.