Former Norbourg CEO and convicted financial fraudster Vincent Lacroix Friday had his jail sentence reduced to five years minus one day from his initial sentence of 12 years minus one day.
His sentence was unreasonable and excessive, said Lacroix's lawyer Clemente Monterosso.
Lacroix was convicted in December 2007 of scamming over 9,000 investors out of $115 million.
Lacroix is currently residing in a halfway house.
