A director of the failed company Nathans Finance has been denied bail at the High Court in Auckland.
Kenneth Moses was sentenced to two years and two months imprisonment and ordered to pay $425,000 reparation last week for making untrue statements in company documents.
His appeal against the sentence will be heard at the end this month and his lawyer argued that the days in jail before the hearing would be onerous on Moses' health.
Justice Heath declined the application saying the appeal would be heard promptly and the time in jail would not have a negative impact on Moses' wellbeing.
A second director, Mervyn Doolan, did not seek bail but will appeal his sentence.
Both appeals will be heard on the 27 September.
Nathans Finance went into receivership in 2007 owing $174 million to about 7,000 investors.
