Bridgecorp Ltd and Directors Prosecuted

The Companies Office confirmed today that it has laid criminal charges against Bridgecorp Limited and its two executive directors Rodney Petricevic and Robert Roest.

"The charges relate to statements made in the company's prospectus, and in a director's certificate," said Registrar of Companies Neville Harris.

"Bridgecorp's prospectus and its directors claimed the company had never missed an interest or principal payment."

"In fact, between February and June 2007, Bridgecorp failed to make many of its required interest payments and investment redemptions by the due dates."

The prosecution is being carried out by the National Enforcement Unit of the Companies Office.

The defendants are due to appear on 29 July 2008 in the Auckland District Court.

Mr Harris said the case was now before the Court and it would not be appropriate to comment further.

The Securities Commission and the Serious Fraud Office are conducting separate investigations into Bridgecorp's affairs, and the agencies have been liaising closely as appropriate.

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