Jingji (Ronnie) Xue and the formerly NZX-listed dairy trader have been ordered to pay penalties of $875,000 and $175,000, respectively.
Four Mainzeal directors have now filed appeals.
Linsa director is former Western Bay Finance founder.
Parole Board said Ross' offending had been 'on a scale unprecedented in this country' that brought misery to hundreds of people, most ruined financially.
Other directors yet to confirm their position but appeals expected.
Vector chief network officer Andre Botha says the breaches were not designed to extract maximum profit.
“It’s ridiculous self-serving nonsense from corporate New Zealand,” Bernard Whimp says.
High Court delivers judgment on good character breach.
High Court hears franchisee's financial concerns.
Kelvin Clive Wood defrauded his clients of more than $7m.