One of the jailed Bridgecorp directors has been refused parole, with a judge saying he lacks empathy for his victims and is still a risk to the community.
In 2012 Robert Roest, 58, was jailed for six years and nine months for his part in financial mismanagement and fraud that cost 4,500 investors a total of $120 million.
The Parole Board said Roest was still trying to justify and rationalise his offending when he appeared before the board earlier this month.
In the report Judge David Mather said Roest appears to have accepted responsibility for his acts, but still lacks any significant degree of empathy for his victims.
Mather said Roest still has a career ahead of him and the board can not rule out the risk of him giving financial advice to people again.