23 Sep 2012

Bridgecorp director struck off by Institute

8:14 am on 23 September 2012

Robert Roest has been jailed for six years and nine months on 10 Securities Act charges and a further eight charges brought under the Crimes Act and Companies Act.

Roest did not attend the Institute's Disciplinary Tribunal's hearing this week and entered no plea.

The Tribunal says Roest acted dishonestly with intent to deceive the investing public and is no longer compatible for membership.

He has also been ordered to pay $4100 to cover the cost of the hearing.

Bridgecorp collapsed in 2007 owing more than $450 million to 15,000 investors.