Former Bridgecorp director Rob Roest remained firm this morning after being questioned on a transaction between the failed finance company and its alleged "piggybank".
Roest - along with fellow directors Rod Petricevic and Peter Steigrad - face 10 Securities Act charges and are accused of misleading investors in Bridgecorp prospectuses and offer documents.
The Crown's cross-examination of Roest continued this morning and focused on the "Barcroft transaction".
The transaction involved the sale of loans from Bridgecorp to Barcroft Holdings on June 30, 2006 and represented Bridgecorp's single biggest exposure.
The amount Barcroft owed Bridgecorp was originally around $80 million but grew to more than $100 million before the latter company collapsed, owing 14,500 investors $459 million.