Former HIH director Rodney Adler was today jailed for over four years for charges related to HIH’s $5.3 billion collapse.

NSW Supreme Court Justice John Dunford – who said Mr Adler had acted with an “appalling lack of commercial morality” – sentenced him to four-and-a-half years with a non-parole period of two and half years.

Mr Adler, 45, faced four charges of making false statements about the purchase of HIH shares in 2000 and making false statements to gain funds from HIH for his company, Business Thinking Systems.

Each of the four charges Mr Adler faced carried a maximum jail term of five years.

Before he entered the court this morning, Mr Adler told journalists he had explained to his children being sent to jail was “like being sent to your room”.

“I said to them when I punish one of you I punish you to your room [sic] for a couple of hours, you may agree or disagree with that punishment,” he said. “The Government of Australia is punishing me today. I will be receiving a custodial sentence and I will be going to my room.”

Tomorrow, former HIH CEO Ray Williams faces the NSW Supreme Court for sentencing on three charges related to the failed insurer.