14 Mar 2012

Crown calls Petricevic a liar, in court

5:30 pm on 14 March 2012

The Crown says the former head of failed finance company Bridgecorp, Rod Petricevic, is a liar who knew he was misleading investors.

It has been making closing statements in the High Court at Auckland in its case against Mr Petricevic, Rob Roest and Peter Steigrad, who face criminal charges over the company's collapse in 2007, owing more than $450 million.

Prosecutor Brian Dickey said Mr Petricevic was willing to lie to investors to keep the Bridgecorp ship sailing.

He said any of Mr Petricevic's explanations as to why he was not aware of missing investor payments are totally lacking in credibility.

The Crown says the three Bridgecorp directors knew the finance company was failing but released documents suggesting otherwise.

It says Bridgecorp's issues of liquidity underpin most of its case.

The Crown's summing up will be followed by the defence for each director.

Justice Venning is expected to deliver his verdict before Easter.