Mil­lion-dol­lar fraud­ster de­clined pa­role

Sunday Star-Times - - News - Kelly Den­nett

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.

Ian Lud­wig

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