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 Other charges were withdrawn.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
Most listened to
- No chief of staff leaves one year before an election, says Matthew Hooton
- NZ King Salmon CEO Grant Rosewarne on his company's float plans
- Auckland Airport’s increased capex will help offset pricing reset
- Chorus CEO Mark Ratcliffe on improving service levels as demand exceeds expectations
- Timely chief executive Ryan Baker on making an unfashionable profit