1 Aug 2014

Parole denied to 'remorseful' Petricevic

8:48 pm on 1 August 2014

One of New Zealand's worst finance company fraudsters has said he now feels remorse for his offending.

Former Bridgecorp director Rod Petricevic has been denied parole after serving a third of his six-and-a-half year jail term for lying to investors about the company's finances.

The company collapsed in 2007, owing 14,500 investors almost $490 million.

After pleading not guilty at his trial in 2012, Petricevic now says he's had time to reflect on his offending and takes full responsibility for it.

The board denied his bid for for parole because it remains unpersuaded by his claims of remorse and says the risk of him re-offending remains.

Petricevic is next eligible for parole in February 2015.