Former FAI Home Security Chairman Brad Cooper has been found guilty in the NSW Supreme Court of six counts of corruptly giving a cash benefit to influence an HIH agent. He was also found guilty of seven charges of publishing false or misleading statements with intent to obtain a financial advantage.

The verdict followed a 44-day jury trial before Justice Bruce James. The prosecution said Mr Cooper paid about $120,000 to former HIH Finance GM Bill Howard as part payment of a $4.9 million debt and a further debt of $1.79 million. The charges over misleading statements relate to various occasions where HIH or its agents were induced into making payments to Mr Cooper or associated companies.

Jeff Lucy, Chairman of the Australian Securities and Investments Commission, said late yesterday that the successful prosecution of Mr Cooper is “a further important step” in bringing those associated with the failure of HIH to account.

Mr Cooper was remanded in custody and will appear for sentencing on December 2. 

Meanwhile, former HIH CFO and Executive Director Dominic Fodera has begun his Supreme Court trial. He is charged with six criminal offences relating to the insurer’s collapse. The allegations against Mr Fodera were not detailed in court, and the case was adjourned until February.