R v Fodera [2007] NSWSC 1194

R v Fodera [2007] NSWSC 1194

The offender, as Chief Financial Officer, director and senior executive of HIH, deliberately failed to disclose to the HIH Board and auditor the LOC agreements and understanding that materially affected the true risk transfer and accounting treatment of the Hannover transactions. That deliberate breach of trust made the offence serious and above the mid-range for its type, requiring imprisonment and significant weight to general deterrence. After a 15 per cent discount for the guilty plea and allowing partial concurrency with the existing federal sentence for totality, the appropriate sentence was three years and four months' imprisonment, with a single non-parole period fixed for the...

Jurisdiction
Australia
Judgment Date
06 November 2007
Procedural Posture
Criminal Sentencing for Corporations Law Offence / Sentencing After Guilty Plea
Outcome
The offender was sentenced to imprisonment for three years and four months, partly concurrent with the federal sentence already being served, and a single non-parole period of three years was fixed.
Legal Topics
['executive Director Duties' 'dishonesty' 'white Collar Crime' 'reinsurance Accounting Treatment' 'federal Sentencing' 'non Parole Period']
['criminal Law' 'corporations Law' 'sentencing'] ['executive Director Duties' 'dishonesty' 'white Collar Crime' 'reinsurance Accounting Treatment' 'federal Sentencing' 'non Parole Period']

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Procedural Posture

Criminal Sentencing for Corporations Law Offence / Sentencing After Guilty Plea

Legal Issues

  1. 1 ["Whether the offender's failure to disclose the LOC agreements and understanding was deliberate dishonesty rather than merely reckless conduct." "What sentence was appropriate for the offender's federal Corporations Law offence having regard to objective seriousness, general deterrence, plea of guilty and personal circumstances." 'How the new sentence should be structured with the federal sentence already being served, including whether to fix a single non-parole period under s 19AE of the Crimes Act 1914.']

Ratio Decidendi

The offender, as Chief Financial Officer, director and senior executive of HIH, deliberately failed to disclose to the HIH Board and auditor the LOC agreements and understanding that materially affected the true risk transfer and accounting treatment of the Hannover transactions. That deliberate breach of trust made the offence serious and above the mid-range for its type, requiring imprisonment and significant weight to general deterrence. After a 15 per cent discount for the guilty plea and allowing partial concurrency with the existing federal sentence for totality, the appropriate sentence was three years and four months' imprisonment, with a single non-parole period fixed for the...

Court Disposition

The offender was sentenced to imprisonment for three years and four months, partly concurrent with the federal sentence already being served, and a single non-parole period of three years was fixed.

Orders

  • ['Dominic Fodera is sentenced to imprisonment for a term of three years and four months to date from 9 November 2008.' 'That sentence will expire on 8 March 2012.' 'In relation to the federal sentence presently being served and the sentence imposed, a single non-parole period of three years is fixed to date from 10...