16 Jan 2015

Bridgecorp director refused parole again

12:46 pm on 16 January 2015

One of the jailed Bridgecorp directors has again been refused parole, with the Parole Board saying he still sees himself as a victim of circumstance who was trying to do his best for investors.

In 2012 Robert Roest was jailed for six years and nine months for his part in financial mismanagement and fraud that cost 4500 investors a total of $120 million.

The Parole Board said Roest had a rather intransigent attitude to his offending.

But it said any remaining concerns about his risk could be covered by release conditions which stopped him from doing similar work, or having a position where he dealt with other people's money.

The Board said, however, he could not be let out on parole, because there was no properly supported release plan - an issue which could be addressed the next time he appeared before them.

Get the RNZ app

for ad-free news and current affairs