Former Bridgecorp managing director Rob Petricevic, already serving a six-and-a-half year jail sentence, has pleaded guilty to four fraud charges.
The Serious Fraud Office (SFO) brought charges against the Petricevic relating to the fraudulent acquisition and financing of a luxury launch, the ‘Medici’, purchased using $3.5 million of Bridgecorp money.
A fraudulent transaction took place to finance, hide or disguise the purchase of Medici from the Bridgecorp Board, the Trustee, and investors, the SFO alleged.
Petricevic also made substantial payments to a Panmure spray tanner, Janita Wright who was to be a witness at the trial.
He admitted four charges at the Auckland District Court this afternoon. Other charges were withdrawn.
Petricevic will now serve an additional four months in prison, on top of his current jail term.
The SFO's prosecution of Petricevic's co-accused Rob Roest, also behind bars, will still go ahead.
Both men are serving six-and-a-half-year jail sentences imposed after a separate trial, brought by the Financial Markets Authority, in which they were found guilty of misleading investors who lost $459 million when Bridgecorp collapsed in 2007.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Parent, widow of Pike River casualties fail to force review of decision to drop charges against Whittall
- iPredict decision the work of 'officious aliens' – Crampton
- Tech expert's complaint about 'snake oil' ad upheld
- High Court hears allegations over redacted report in Trends R&D funding case
- Fonterra says farmer loan support package will cost $390 million
Most listened to
- Tim Hunter on why Veritas is doing it the hard way
- Matthew Hooton on whether Steven Joyce will be the next national leader
- Rodney Hide on why all city planners should be fired
- Nevil Gibson discusses his latest Editor's Insight on films
- The NBR crew throw around some of the week's top stories
- Rob Hosking breaks down the political and economic week that was
- "A tragedy" - David Farrar on his disappointment with Simon Bridges
- New F&P product pipeline exciting, says Macquarie senior investment adviser Brad Gordon
- Taupo Motorsport Park executive director Tony Walker on the park's rebranding
- NZIER senior economist Christina Leung on why she does not think the OCR will hit 2%
- NBR's Cameron Officer talks about the NBR Car of the Year 2015
- John Barnett on Brewer: ‘Boy, has he got a bit to learn’