A former executive of Reserve Bank of Australia subsidiaries who conspired to bribe Malaysian officials to gain banknote contracts has avoided serving a prison sentence in Melbourne.
Christian Boillot, 67, pleaded guilty last month to his role in offering lucrative commissions to middlemen between 2001 and 2003 to secure Malaysian contracts with Securency International and Note Printing Australia (NPA).
European-based Boillot was employed in the international sales and marketing section of NPA and as a banknote specialist with Securency when he became involved in the conspiracy.
In sentencing on Thursday, Justice Elizabeth Hollingworth noted Boillot was not the "architect" of the conspiracy, which she described as "sophisticated, carefully orchestrated and concealed".
She noted he was "the last man standing" and that she had already sentenced NPA, Securency, and Myles Curtis - the former CEO of Securency - for their roles in the crime.
She has also sentenced former Indonesian businessman Radius Christanto for conspiring to bribe an official of the Indonesian central bank.
Justice Hollingworth said the conspiracy ended when NPA entered a contract to supply Malaysia's central bank with 160 million five-ringgit polymer notes, paying an agent commission of $A2.19 million - 17 per cent of the contract price.
However, she added that Boillot did not act for his own financial gain, but to promote his employer's business, in a corporate culture where the conduct was expected.
Justice Hollingworth also noted substantial delays in the case, and that he had served some time in custody in Germany before being extradited to Australia.
"You have been living in a state of limbo for the past seven years, uncertain and anxious as to when you will be able to return home and resume your life," she said.
"I accept that it's highly unlikely that you will reoffend and your prospects for rehabilitation are excellent."
Boillot was given a two-year-and-six-month prison sentence, but released on a recognisance release order where he must be of good behaviour for two years.