The former managing director is two years and five months into a six years and 10 months prison sentence for making false statements, offences under the Securities Act, and using company funds to buy a luxury boat.
He first applied for parole in August last year but was denied on the same grounds.
In a decision by the Parole Board, released today, it denied his early release because it believed attitudes revealed in a psychologist's report of Petricevic still meant he was a risk to the community.
The psychologist's report said Petricevic didn't appear to accept full responsibility for deliberately committing the offences.
"Mr Petricevic appeared to accept responsibility for the offences and for the losses suffered by Bridgecorp investors but did not accept that he had acted in a manner that was deliberately dishonest or deceptive," the psychologist's report stated.
"Therefore it is assessed that he displayed partial remorse but nevertheless maintained a degree of entitlement to act in the way that he did given what he said he knew at the time of the offending."
Petricevic is next eligible to be considered for parole in August 2015.
NZME
