Convicted Producer Garth Drabinsky Granted Parole

According to the New York Post, former Livent executive Garth Drabinksy has been granted parole, and will serve the final two years of his sentence from his home. As a condition of the parole, Drabinsky will be forbidden from "owning or operating a business or managing money for any other individual, company or charity."

Drabinsky and his business partner Myron Gottlieb were convicted of two counts of fraud in 2009 after misreporting Livent's quarterly financial statements after the company went public, from 1993 to 1998. Gottlieb received a four-year sentence.

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Livent was one of North America's biggest Live Theatre companies in the 1990s but has since gone out of business. The company had produced such Broadway shows as Ragtime, Showboat, The Phantom of the Opera and Kiss of the Spider Woman.