Bridgecorp’s Petricevic denied parole
Jailed former director slammed by Parole Board.
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Hawke’s Bay
The Parole board has denied former Bridgecorp director Rod Petricevic a second time.
Petricevic has a total sentence of six years and ten months imprisonment for his actions as managing director of the Bridgecorp group of companies, which collapsed in 2007.
He was convicted on Crimes Act, Companies Act and Securities Act charges relating to making false statements and misleading investors.
He was first denied parole in 2014, and unsuccessfully appealed that application.
In its most recent review of Petricevic’s case, the Parole Board says there has been no significant change his attitude towards his offending.
“He seems to accept responsibility on the basis of neglect or of failing to inform himself of that which, as managing director, he should have been aware, but not to acknowledge the deliberate personal deceit, upon which the Court’s findings were based, and which conviction on these charges essentially demonstrates.
“Whether that is because of a reluctance to accept and acknowledge the realities of the situation, or whether it derives from a genuine inability to distinguish between neglect on the one hand, and wilful dishonesty on the other, it portrays a state of mind that does not hold his offending in its true perspective.”
The board accepted that his long absence from the commercial scene and Financial Markets Authority restrictions were protective actions, and said he could try again in August.
Read the full parole board decision here.
Victoria Young
Fri, 13 Feb 2015
Fri, 13 Feb 2015
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Bridgecorp’s Petricevic denied parole
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