The list of imprisoned former HIH executives has increased to eight with the jailing of former CFO Dominic Fodera for three years.

With time off for good behaviour Mr Fodera, 47, will serve at least two years for his part in the $5.3 billion collapse of HIH Insurance.

Mr Fodera was sentenced in the NSW Supreme Court on charges stemming from the release of a 1998 prospectus that omitted material information about its underwriter, Société Générale Australia Limited.

The October 1998 prospectus was issued to raise $155 million in converting notes to purchase FAI Insurance. However, it failed to tell investors the risk to Société Générale, which was to take up $35 million of the notes, had effectively been removed.

This transaction involved Société Générale taking a priority allocation of the notes in exchange for HIH depositing $35 million with the underwriter and entering into an arrangement known as a total return swap.

Justice Megan Latham has withheld the reasons behind the sentence because Mr Fodera is scheduled for another trial in September. He faces an additional four charges of giving false information and two charges of failing to act honestly as a director.