Bridgecorp’s Roest denied parole again
Former director of failed company still sees himself as victim of circumstance who tried his best for investors.
Robert Roest, a former finance director of failed company Bridgecorp, has been denied parole for a second time.
Mr Roest was convicted of making of false statements in prospectuses issued by Bridgecorp, which collapsed in 2007 owing $459 million to over 14,000 investors.
He was sentenced to prison for six years and nine months in May 2012, and an received extra three months after pleading guilty to charges relating to the purchase of a luxury yacht with company funds.
According to the Parole Board, Mr Roest has a “rather intransigent attitude” to his offending and still sees himself as a victim of circumstance who was trying to do his best for investors.
Despite this, the board said any remaining concerns about the risk he poses on release could be mitigated by conditions that prevent him doing similar work or holding a position where he deals with other people's money.
Mr Roest’s application for parole was denied, however, because there was no properly supported release plan – an issue that could be addressed the next time he appeared before the Board.
Mr Roest first appeared before the Board in August last year, when it was noted he “appeared to lack significant degree of empathy for the victims of his offending other than acknowledging their losses”.
Nick Grant
Fri, 16 Jan 2015
Fri, 16 Jan 2015
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Bridgecorp’s Roest denied parole again
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