BANKING & FINANCE - May 30, 1992

Alan Bond Sentenced to Prison: The bankrupt Australian tycoon was sentenced to 2 1/2 years in prison for dishonesty, but his lawyers said he plans to clear his name. Bond, 54, was jailed in Perth, Australia, by Judge Peter Blaxell one day after a jury found him guilty under Western Australian securities law of dishonesty in relation to an attempted rescue of failed Perth finance company Rothwells Ltd. in 1987. Blaxell said Bond had already suffered a “prolonged fall from grace” but that the court could not show special leniency. The jury found that Bond had induced his close friend and business associate Brian Coppin to contribute up to $12 million to a rescue of Rothwells by dishonestly concealing that Bond Corp. was to get a fee of $12.8 million.