Multi-million dollar fraudster Ian Thow granted parole
Multi-million dollar fraudster Ian Thow appears in this file photo. (CTV)
CTV British Columbia
Published Friday, October 26, 2012 8:09AM PDT
Former Victoria financial advisor Ian Thow who conned investors of more than $8 million has been granted parole after serving just two and a half years of his nine-year prison sentence.
Patrick Storey of the Parole Board of Canada said Thow is being released from custody because he is not considered a threat to commit violence.
Thow was denied parole in January, but a supreme court ruling that accelerates parole for first-time, non-violent offenders allowed him to be released after serving a sixth of his sentence. Although the ruling was abolished last year, it was applied to Thow’s case retroactively because he was sentenced in 2010.
Thow pleaded guilty to 20 counts of fraud after scamming millions from close friends and business associates in order to live a lavish lifestyle that included luxury cars, a yacht and a private jet.
Conditions of Thow’s release include reporting to his parole officer, reporting intimate relationships, gaining employment and seeing a psychologist.