The jailed director of failed finance company Capital + Merchant has been paroled with the Parole Board saying he was a "model prisoner" who'd coped "extremely well in prison".
Owen Tallentire was jailed for five years in 2012 for theft while in a special relationship and three breaches of the Security Act.
The finance company he'd been chief executive and then director of collapsed, owing $167 million to 7500 investors.
The Parole Board said Tallentire was directly responsible for the loss of more than $12m.
Many of the victims has been retirees or those approaching retirement.
Tallentire and fellow directors Robert Sutherland and Colin Ryan received a mixture of prison terms and home detention.
In a decision released today the board said Tallentire, 67, had become eligible for parole on July 20 and was assessed as "low risk".
He had been a model prisoner who'd had some health issues that had been managed through surgery, but had done "extremely well" in prison, the board said.
The decision detailed that although Tallentire was a superannuatant with no assets, his family was supportive of him and he had no intentions of working in management positions upon his release.
He was prohibited from working in a role that involved managing money or having fiscal responsibility. He must not communicate with the board or directors of Capital Merchant Finance without consent from a parole officer.
His sentence end date is July 18, 2018.