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Accountants bite back at Roest

Friday 21 Sep 2012 3:34 p.m.

Rob Roest (r) is currently serving jail time

Rob Roest (r) is currently serving jail time

Former Bridgecorp finance director Rob Roest, currently serving jail time for misleading investors, has been struck off by the Institute of Chartered Accountants.

The institute this week said Roest, 56, could not be a member because of his dishonesty crimes, and it also wanted him to pay $4100 in costs to the conduct committee that kicked him off.

Roest, declared bankrupt, is serving a six year and nine month jail term on Crimes Act and Companies Act charges for his role in the 2007 collapse of Bridgecorp, where about 14,000 investors were left owed about $459 million.

The institute has also struck off the former director of Five Star Consumer Finance, Anthony Walpole Bowden.

Bowden, 71, is serving a home detention sentence after he admitted theft charges following the company's collapse, also in 2007, where 2100 investors were left $54m out of pocket.

NZN

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