SFO lines up more charges for Bridgecorp's Petricevic and Roest

SFO director Adam Feely, who joined the white collar crime investigator in November, said the charges relate to Petricevic's "allegedly fraudulent acquisition" of a luxury boat using $1.8 million of Bridgecorp, and some $1.2 million of "allegedly dishonest payments" authorised by Petricevic to a business operated by a personal acquaintance of his.  

"There have been extensive and exhaustive investigations into the failure of Bridgecorp, and these final charges effectively bring all those inquiries to a conclusion," Feely said in a statement.

The SFO decided that its investigations into alleged fraud with related parties "can be addressed by action already commenced by other agencies, and the Crown may consider revising the charges which have already been laid in respect of those matters."  

Receivers for the bevy Bridgecorp companies, Colin McCloy and Maurice Noone of PricewaterhouseCoopers, expect the 14,000 investors owed $459 million will only get some 10 cents in the dollar back from the failed finance company.