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SYDNEY, AustraliaDominic Fodera, former chief financial officer of HIH Insurance Ltd., was sentenced on Thursday to three years in jail for his role in the company's collapse.
Mr. Fodera was convicted of authorizing a prospectus from which there was a material omission.
HIH became Australia's biggest ever corporate collapse when it failed in 2001.
A former chief executive and a former director of the insurer have been jailed for their part in its downfall.
Mr. Fodera will be released after two years upon agreeing to a good-behavior bond.