A failed Fiji resort development that jailed fraudster Rod Petricevic and other Bridgecorp directors poured $106 million has today been officially restarted by the island's nation's prime minister.
Fiji leader Frank Bainimarama official launched the Momi Bay redevelopment project this afternoon, saying the venture was "effectively killed off by mismanagement".
The half-finished Momi Bay resort was the largest property project Bridgecorp had put money towards and in 2006 was to have been the biggest resort development in Fiji and the South Pacific.
The project was running behind schedule and had run into trouble well before Bridgecorp collapsed in July 2007, owing $459 million to 14,500 investors.
Five Bridgecorp directors were later found guilty of misleading investors, with Petricevic and CFO Rob Roest also being convicted for fraud.