Jailed former National Finance boss Trevor Ludlow, who wants to be released from prison so he can prepare an appeal case against his convictions, has been denied bail.
In October last year Ludlow was sentenced to five years and seven months' jail for defrauding National Finance investors of some $3.7 million by breaching the lender's trust deed.
Ludlow has appealed against his sentence on the grounds that it is "manifestly excessive" and has also indicated that he may appeal against his conviction.
Justice Terence Arnold of the Court of Appeal released a judgment on Friday saying Ludlow's request for bail had been declined.
Ludlow had argued that he be released because he had not been given an access to a fax, computer and printer in prison. He also says there is a high level of public interest in the case.
The Crown opposed bail on the grounds that Ludlow's sentence was well within the range for this type of offending.
In his ruling Justice Arnold says that if Ludlow's appeal was to succeed there is little risk that the length of the sentence would be less than that which Ludlow has served.
He also added that Ludlow had failed to outline reasons why his appeal might be successful.
Justice Arnold said he could not take into account a prisoner's difficulties in preparing for their appeal while incarcerated.
He directed Ludlow to prison authorities to deal with this matter.
In December Ludlow became the first person in New Zealand to be banned indefinitely from working in consumer finance.