Former HIH Finance Director Dominic Fodera was released on bail yesterday after facing an additional charge – the seventh against him.

He has also been accused of failing to inform investors of a complex transaction involving the acquisition of FAI, named Project Vitamin. It involved a $35 million “total return swap” in 1998 that helped HIH raise more than $150 million.

Mr Fodera was in court last month on four charges of giving false and misleading information and two of dishonesty. He has not entered a plea to any of the charges against him.

His bail conditions were modified to require him to surrender his passport. It will be returned to him if he gives the Australian Securities and Investments Commission two days’ notice, an itinerary and a photocopy of his return ticket.

Mr Fodera will reappear on February 7 for a committal hearing to be scheduled.