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Adler’s back in his room as appeal fails

When former FAI executive Rodney Adler was sent to jail last year he told his children he was being sent to his room for a long time. Possibly he didn’t expect it to be for at least two-and-a-half years, because his appeal against his sentence says punishment was too severe.

Last week Mr Adler’s barrister Elizabeth Fullerton SC told the NSW Court of Appeal the punishment is “manifestly excessive”. She also used the old argument that having been disqualified for 20 years by the Australian Securities and Investments Commission and fined $900,000, his sentencing to four-and-a-half years’ jail made him the victim of “double punishment”.

She says Mr Adler’s conduct prior had no bearing on the collapse of HIH; his actions were “opportunistic”.

The Court of Appeal has reserved its decision.