The Financial Markets Authority today welcomed the High Court's verdicts in the trial of three former directors of Bridgecorp Limited and Bridgecorp Investments Limited.
Justice Venning found Rodney Petricevic and Robert Roest guilty on charges of breaching the Crimes Act 1961, the Companies Act 1993, and the Securities Act 1978 and found Peter Steigrad guilty on charges of breaching the Securities Act 1978.
Former director Bruce Davidson entered a guilty plea and was sentenced on 7 October 2011 to nine months home detention, 200 hours of community work, and payment of $500,000 reparation.
Former director Gary Urwin entered a guilty plea on 9 November 2011. He will be sentenced on 17 April 2012.
The Serious Fraud Office has also laid charges relating to these companies. These are scheduled to be heard in September 2012.