Other People's Money

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Early in 2005 Rodney Adler pleaded guilty to charges stemming from the collapse of the country's largest insurance company, HIH. the guilty plea came as a surprise to observers; pr eviously this indulged son of businessman Larry Adler had shown a blatant disregard for the law and for the people whose money he had so freely thrown around. In Other People's Money, journalist Andrew Main sets out the whole sorry story of HIH's failure, the Royal Commission which followed, the spending sprees HIH's directors embarked on - clutches of gold watches priced at $10,000 each, $1500 worth of jelly beans, nights at Sydney's most expensive hotels - even as they held off paying insurance claims. He introduces the key characters - Adler, the haughty Ray Williams and Brad Cooper, one time motivational speaker - as well as a host of lesser but no less Shakespearean characters whose exploits made headlines. Now fully updated and revised to take in developments since Adler's guilty plea, and the consequent sentencing of Adler and Williams, this is an eye-opening, lively account of one of the country's most spectacular corporate scandals. Show more