With most of the big fish already serving time, it’s the little guys of HIH – and its controversial acquisition FAI – now facing court over the corporate collapse.

Former FAI Group Financial Controller Antony Boulden has pleaded guilty to being aware of fraudulently altered company accounts, prompting NSW Supreme Court Justice Whealy to suggest he was hardly catch of the day.

According to media reports the judge said Mr Boulden “wasn’t exactly a minnow, but he wasn’t much above that”.

Mr Boulden helped make $5.5 million of alterations to the claims and expenses side of FAI’s general ledger, turning a $2.325 million loss into a far more palatable profit. He says he did so under orders from more senior FAI executives.

He remains on bail awaiting sentencing on December 1. Prosecutors are calling for a jail term.