Former knight James Wallace has been granted parole and will be released from prison next month.
The 85-year-old was sentenced in 2021 to two years and four months in prison for indecently assaulting three young men and attempting to pervert the course of justice by trying to stop a victim giving evidence.
The disgraced businessman was found guilty in 2021 of indecently assaulting and sexually violating the men at his Auckland mansion in the early 2000s, 2008 and 2016.
The rich-lister was also convicted of perverting the course of justice after being involved in a conspiracy to stop the 2016 complainant from going to the police.
At his first appearance before the parole board in September, he continued to deny his offending and was refused parole. However, it was granted today.
Wallace, who made his fortune in meat production, was a founding patron of prominent arts organisations, including the Auckland Theatre Company, NZ Ballet, and NZ Opera, and had been involved in groups such as the Auckland Philharmonic Orchestra.
He was appointed Knight Companion of the New Zealand Order of Merit for his services to the arts in 2011. His knighthood was cancelled by King Charles III in August 2023, following a formal request from the government.
Wallace is unable to use the titles of Sir or KNZM and has been asked to return his warrant of appointment and honours insignia.
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