He was appealing that conviction and sentence in the Court of Appeal today.
When Love was chairman of the Wellington Tenths Trust between 2006 and 2007 he hid a $3 million payment, part of which was transferred to his partner's company.
Some of that money was used to secure a beachfront property in Plimmerton.
Krebs said Love was a Maori knight of the realm.
"[He] devoted his life to the benefit and the furtherance of his people. [In] his 80th year he finds himself in poor health, incarcerated in a prison in Wellington."
Krebs said the appeal was based on grounds including that Love was unfit to stand trial because he has dementia.
He said Love was hospitalised at one point during the trial.
"That reflects very badly on our system of justice if a person is being tried and they have to go to hospital and then come back and hope to resume some sort of sensible process."
Krebs said Love should have been given more assistance when he gave evidence, and was also deprived of giving evidence in full because of his ill-health.
"There was other material which has been lost in the channels of his dementia. Answers which he could possibly have given, responses which he could have possibly given, to these challenges that were being put to him, which weren't there."
Krebs said there were at least 20 examples in cross-examination where Love had difficulty dealing with the questions presented to him.
He said Love also suffered from heart disease and diabetes.
For the Crown, lawyer Grant Burston said Justice Graham Lang made no error in judgment after hearing extensive evidence at Love's trial.
He said Love was submitted to neuro-psychological testing, which showed he was fit to be there
"His mental impairment did not affect in any material way the evidence he was able to give reflecting his average to high average neuro-psychological testing in all areas but two."
Burston said Love gave firm answers when giving evidence and questioned in cross examination.
He quoted Lang's sentencing notes in court, which he said summed up the fundamental reason why Love's sentence was appropriate.
"The sentence I've imposed is designed to be a deterrent sentence. Trustees who manage assets on behalf of beneficiaries must know that serious consequences will follow in the event they help themselves to trust assets."
Burston said jail time was inevitable once a starting point was accepted and Lang had
applied the principles of sentencing correctly.
He said it was a challenging case for everyone involved.
"Dr Love has been an outstanding New Zealander, it is a very, very difficult situation for the court to be in, for the Crown to be in, in prosecuting him."
