Adler Pleads Guilty
Former HIH director Rodney Adler was sentenced on 14 April 2005 to four and a half years jail, with a non-parole period of two and a half years. Adler's jail sentence came after pleading guilty on 16 February 2005 to four criminal charges, which included:
- two counts of disseminating information knowing it was false
- one count of obtaining money by false or misleading statements
- one count of being intentionally dishonest and failing to discharge his duties as a director in good faith and in the best interests of the company
The sentence was a lenient one, since the judge accepted the defendant's plea of mitigation, citing that he had not sold any of his own shares, or personally benefitted from his actions.
Read more about this topic: HIH Insurance
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