MONTREAL - Vincent Lacroix, the disgraced financier who swindled thousands of investors out of more than $100 million as the president of Norbourg, has been released from prison.
On Thursday he was transferred to a halfway home in Montreal's Southwest borough, having served one-sixth of his 13-year sentence.
Lacroix pleaded guilty in 2009 to 200 fraud-related charges, and wrote an open letter to his victims in which he apologized.
He had previously been convicted in Dec. 2007 of 51 securities violations, and was ultimately sentenced to five years less a day, but spent less than two years behind bars.
His 18-month prison stay outraged his victims, but it's common practice in Canada to release non-violent offenders once they have served one-sixth of their sentence.
