Steigrad ordered back from Europe
Fri, 24 Aug 2012 1:56p.m.
Peter Steigrad, director of failed lender Bridgecorp, must return from his European holiday by Wednesday next week to serve out his home detention.
In a decision released on Friday, the Court of Appeal dismissed his appeal against his nine-month home detention sentence and said he must report to Community Probation by 2pm on Wednesday.
The reasons for its decision would follow, the justices said.
Steigrad was found guilty in April on five of the 10 charges relating to making untrue statements in offer documents.
He appealed his sentence after serving just seven weeks of home detention in New Zealand, returning to his home in Sydney on bail. This month he went to Europe on holiday, reportedly to attend his daughter's wedding.
He was allowed to travel to Europe because his sentence was suspended while it was being appealed.
Bridgecorp collapsed in 2007, owing some 14,000 investors about $459 million.
Bridgecorp's former director Rod Petricevic and chief financial officer Rob Roest were found guilty of all 10 charges of breaching the Securities Act.
Company chairman Bruce Davidson pleaded guilty last year and was sentenced to home detention and community service, and paid $500,000 in reparation. Director Gary Urwin also pleaded guilty and is awaiting sentencing.
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5/09/2012 11:29:15 p.m.
Most folks thought this guy got off pretty lightly with just home detention, especially as the others got prison time. To appeal and then take a holiday in Europe is surely just taking the p*ss. You'd get more punishment for flogging some food to feed your kids!
25/08/2012 3:03:36 p.m.
Amazing that this guy can manipulate the law to his absolute advantage, while others serve longer for failing to pay their car registration fees. Who is the system serving? I've lost track ... and faith ...
24/08/2012 3:52:33 p.m.
geoff s wrote:
Seems to me that home detention and community service should have never been given to this guy.I t appears by his actions he hasnt seen the severity in his crime and jut been aloof about it all.
Good to see that justice has prevailed and that he misses out on his daughters wedding
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