Prison for former Five Star directors

Serious Fraud Office (SFO) chief executive Adam Feeley said, "SFO is pleased with the delivery of a custodial sentence. This is the first sentencing in relation to a major finance company collapse, and continues the clear message from the Courts as to the seriousness of white collar crime."

Kirk was sentenced to two years and eight months while MacDonald was jailed for two years and three months.

Both men had pleaded guilty to Securities Act and Financial Reporting Act charges earlier this year.

Former Five Star director Anthony Bowden was sentenced to nine months home detention and 300 hours community work.