Former Billabong chief executive Matthew Perrin has lost an appeal to overturn his fraud conviction, but will be paroled six months early.
Perrin was sentenced in January to eight years' jail for forging his then-wife's signature to access more than $13 million from the Commonwealth Bank.
The Court of Appeal knocked back an appeal against his conviction, but will make the 44-year-old eligible for parole in June 2020, six months earlier than originally instructed.
The presiding judges found that allowances had not been made for the fact admissions made by Perrin had shortened the trial, "at a considerable saving in time and cost".
The court will also allow Perrin to appeal his sentence.
Perrin's trial heard that in 2008 he forged his wife's signature to mortgage the family home, which was solely in his wife's name, in order to pay off large debts that had accumulated from failed business deals.
He admitted to signing his wife's name on bank documents, but claimed he had her permission.
In December 2016 he was found guilty of 12 counts of fraud and forgery, but prosecutors chose to drop three of the charges.
The former multi-millionaire surf wear boss committed the offences after a series of failed investments left him facing financial ruin.
He was declared bankrupt in 2009.
