90 at 9am: Bridgecorp 'lied to investors'; German outrage grows; Dubai fear back

Bernard Hickey details the key news overnight in 90 seconds at 9am in association with BNZ, including details emerging about what was going on at Bridgecorp in the months leading up to its collapse in July 2007.

Reporters from the NZHerald and the Dominion Post were at depositions hearings at the Auckland District Court yesterday for criminal charges against Rod Petricevic and four directors of Bridgecorp. Staff were told to lie to investors about why they weren't getting their money back, including that there were technical glitches, they reported.

One staff member wrote an email saying customers should be told Bridgecorp had no money and they were being lied to by Petricevic's company.

Meanwhile doubts remain about support for Greece as political opposition in Germany grows. More than half of German voters want Greece thrown out of the euro. The euro fell and the New Zealand dollar rose to its strongest level against the Euro in almost a year. The European Union is the second biggest buyer of New Zealand's exports after Australia.

Also, Dubai worries resurfaced after a debt restructure offer of just 60 cents back in every dollar.

Category:

News & Politics

Tags:

• BNZ
• Germany
• Euro
• Bridgecorp

[keithholden]

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