FAI alumni are reportedly organising lunches for tomorrow in Sydney to mark the occasion when Rodney Adler will be sentenced for his dishonest involvement in Australia’s biggest corporate collapse. To mark the occasion, we’ve been busily updating the great ASIC jail list which you can read here.

Our last entry is former Satellite Group boss Greg Fisher who got a two-year stretch on February 11 this year. The corporate plod has promised to send us the latest additions by week’s end but it will be very interesting to see where Rodney ranks. I’m tipping and hoping he’ll get four years with a minimum of two.

ASIC has now jailed about 270 people since it was formed 15 years ago but its jailing record has been up and down in recent years as you can see from the following records:

2000: 31
2001: 16
2002: 20
2003: 15
2004: 28

However, there could be a burst of porridge on the horizon with other high profile figures also facing charges. These include:

  • Former HIH CEO Ray Williams will be sentenced on Friday after pleading guilty to three charges of knowingly making misleading statements.
  • Former FAI and HIH executives Tim Mainprize, Stephen Burroughs and Daniel Wilkie are currently scheduled for trial on September 5.
  • Terry Cassidy, the former head of HIH in Australia, pleaded guilty to three charges and faces a sentencing hearing scheduled for 19 April.
  • The trial of Eddie McGuire’s great mate Brad Cooper’s is currently scheduled for 1 August.
  • Former HIH deputy chairman Charles Abbott will face a committal hearing set down for 30 May on one charge of using his position for personal gain after HIH paid him $181,000 the night before it collapsed.
  • Froggy.com founder Karl Suleman has so far only been charged with 15 counts of making false statements. The matter was in court yesterday and adjourned for a month.
  • The four NAB foreign currency traders have been charged with various offences but only head trader Luke Duffy has pleaded guilty to three counts of using his position to dishonestly make personal gains. He will be sentenced on 14 June.

It really does seem that 2005 will be the year for HIH sentencing.

Peter Fray

Fetch your first 12 weeks for $12

Here at Crikey, we saw a mighty surge in subscribers throughout 2020. Your support has been nothing short of amazing — we couldn’t have got through this year like no other without you, our readers.

If you haven’t joined us yet, fetch your first 12 weeks for $12 and start 2021 with the journalism you need to navigate whatever lies ahead.

Peter Fray
Editor-in-chief of Crikey

12 weeks for $12