Ex-Bridgecorp director to stand trial

Robert Roest File photo

Former Bridgecorp director Robert Roest will stand trial next year on alleged non-payment of PAYE.

Inland Revenue has charged Roest with six offences under the Taxation Administration Act that relate to aiding and abetting.

Roest's lawyer Todd Simmonds said his client had entered a not guilty plea several months ago.

Roest and fellow former director Rodney Petricevic also face Serious Fraud Office charges relating to alleged transactions they were involved in while directors of Bridgecorp.

Both have pleaded not guilty and this case is also expected to go to trial next year.

Both Roest and Petricevic have been bankrupted.

In a separate case, Roest and Petricevic together with other former Bridgecorp directors Gary Urwin, Peter Steigrad and Bruce Davidson are defending charges they breached the Securities Act.

Petricevic and Roest also face additional charges under the Companies and Crimes Acts for their roles in issuing a company prospectus.

They have pleaded not guilty to these charges.

All the directors have pleaded not guilty to the 10 Securities Act charges they each face.

The Crown alleges the directors lied to prospective investors in Bridgecorp's term investment prospectus, registered on December 21, 2006, in an investment statement and advertisement.

It is alleged Bridgecorp said it would only lend in accordance with good commercial practice and that it had never missed an interest payment.
If the directors are convicted they face a maximum penalty of five years' imprisonment or fines of up to $300,000.

Bridgecorp collapsed in 2007 owing 14,500 investors almost $460 million.

Petricevic and Roest have been banned from directing or managing a company until 2014.