Niels Stolberg has appealed against his jail sentence.
The appeal was launched yesterday, less than a week after the District Court of Bremen handed Stolberg a three and a half year prison sentence.
It means the long running fraud case which focused on Stolberg's role in the downfall of Beluga Shipping will now be heard by Germany’s Federal Court of Justice.
On 15 March, the regional court delivered a damning verdict, finding Stolberg guilty on numerous fraud charges.
Stolberg had been seeking a probationary sentence.
But his appeal to the German Federal Court could yet backfire.
State prosecutors, who had sought a longer sentence of four and a half years, have simultaneously appealed against the sentence, court officials in Bremen confirm.
