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Crown catches Petricevic out with email

Bridgecorp managing director Rod Petricevic, who says he was unaware of missed investor payments, has been caught out by an email, produced as evidence, that suggests he was informed.

Mr Petricevic had told Auckland High Court he was not aware of missed payments to investors until days before the property financier fell into receivership in June 2007.

During cross-examination from Crown lawyer Warren Cathcart this morning, he told the court there had been no verbal or email advice "that I can remember" from staff informing him of missed maturity payments to Bridgecorp's investors.

However, Mr Cathcart then produced an email sent to Mr Petricevic and fellow director Robert Roest (also on trial), by his investor services manager Chris Todd on April 11, 2007 alerting them to a complaint from an investor waiting for a maturity payment of $69,000.

Mr Petricevic's lawyer Charles Cato objected to the evidence and asked why it hadn't been disclosed by the Crown earlier.

Mr Cathcart said the email had been provided to the court, bundled with other evidence. 

Asked if he recalled the email, Mr Petricevic said: "It has been sent to me and I assume I saw it."

However, he said he did not wish to change his earlier evidence - that he had not been informed of missed investor payments.

Bridgecorp's 2006 prospectus, under scrutiny, stated: "Bridgecorp has never missed an interest payment or, when due, a repayment of principal."

Mr Petricevic also disagreed with earlier evidence from Bridgecorp's former in-house lawyer Jo Wong, who testified she approached Mr Petricevic and Mr Roest about missed payments in April 2007.

This morning, Mr Petricevic denied that conversation and said Ms Wong did not alert him to missed payments.

He would not be drawn on whether Ms Wong was therefore lying in her evidence, or simply mislead.

"I think her memory has failed her about missed payments."

The trial, before Justice Geoff Venning alone, continues.

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