The fraudster will walk free from prison on Monday, having served half of his six year and 10 month sentence.
Sensible Sentencing Trust said the group had filed proceedings in the High Court at Wellington to try and overturn the decision.
Trust founder Garth McVicar said white collar criminals like Petricevic were in some respects worse than the likes of criminals who held up dairies.
“Many of those offenders have truly had terrible backgrounds, which might just provide an explanation for their offending, if not an excuse,” he said.
Those like Petricevic came from privileged backgrounds, and had the benefit of good educations, McVicar said.
“To then go and rip off the life savings of trusting elderly people, as Petricevic has done, is utterly disgraceful conduct,” he said.
McVicar said elderly people who were victims of white collar criminals often died unexpectedly early, traumatised and broken.
“White collar criminals take note: You are in our sights, right beside the aggravated robbers and the bashers,” he said.
Good on the SST. Having Petricevic out after barely three years will rankle many.