A former Sydney tech company director will spend at least six years behind bars for defrauding his company of nearly $9 million.
Andrew John Sigalla, 51, was on Friday described by NSW Supreme Court Justice Christine Adamson as "indignant", "intransigent" and displaying "significant hubris" during his trial last year.
Sigalla was charged with 24 counts of dishonestly using his position as a director of ASX-listed company TZ Limited to gain a benefit for himself or a third party between late 2006 and March 2009.
The jury heard he transferred six-figure sums to his own companies and used the money to fund a gambling habit.
High-profile bookmaker Tom Waterhouse, who was called as a witness, described Sigalla as "a known big punter".
Sigalla owed Mr Waterhouse $1.9 million in late 2008 and the following year the bookie stopped accepting his bets.
TZ Limited became increasingly short of funds in the lead-up to Sigalla's resignation in July 2009.
Following his departure, a new board began to investigate outgoing funds and lawyers asked Sigalla, who was then in the Bahamas, to explain.
In sentencing, Justice Adamson criticised Sigalla's refusal to cooperate with the "complex, time-consuming and expensive" ASIC investigation into his conduct.
"His indignant and intransient attitude at least partly contributed to the length and cost of the investigation," she said.
Justice Adamson said Sigalla displayed "significant hubris" during the trial that was "entirely at odds with any remorse".
While Sigalla believed the ends justified the means, Justice Adamson warned such offending had the potential to erode trust in company directors.
"It was not only TZ Limited and its shareholders who were harmed by the offender's conduct, the investing public was also affected," she said.
Sigalla was handed an overall sentence of 10 years with a non-parole period of six years on Friday as a woman in the public gallery gasped and began to sob.
Upon his release, Sigalla will be automatically prohibited from acting as a director for five years and the restriction can be extended to 15.
Of the $8.6 million Sigalla funnelled, $7.5 million was for his own benefit and only $250,000 was recovered.
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