More than four years after the collapse of HIH, two of the major players in the drama, Rodney Adler and Ray Williams, will finally face court this week to hear what their punishments will be.

Mr Adler, who will be sentenced on Thursday, has pleaded guilty to four charges that carry a maximum sentence of five years each. Mr Williams, who will learn his fate on Friday, has pleaded guilty to three charges that combined carry a maximum potential sentence of 12 years. 

Both men struck deals with prosecutors to reduce the severity of the proceedings against them.

Terry Cassidy – a former director of HIH – is the next in line to face the courts. He’s facing a sentencing hearing next week after pleading guilty to three criminal charges regarding his management of the group.

Mr Adler, whose pre-sentence pleading was questioned by the judge as seemingly containing more remorse for being caught than for acting dishonestly, has resigned his Order of Australia. He was named a Member of the Order in the General Division (AM) for his philanthropy and services to the industry in 1999.

Sunrise Exchange News will keep you up to date on the sentencing.