Disgraced theatre impresario Garth Dra-binsky has been granted day parole and is permitted to serve the remainder of his fraud sentence at a halfway house in Toronto, the Parole Board of Canada ruled Wednesday.
The two-member panel determined the 62-year-old former entertainment mogul would not pose an "undue risk" to public safety, but denied his application for full release.
In 2009, the ex-CEO of the now-defunct Livent Inc. - the company behind such hits as Phantom of the Opera - and longtime friend and business partner Myron Gottlieb were both convicted of two counts of fraud each for a book-cooking scheme that resulted in the demise of Livent.
At the parole hearing, Dra-binsky denied intentionally committing fraud but admitted he had pressured employees to maximize profits at the company.
