The state parole board denied early release Wednesday for Earle Morris Jr., who served as chairman of the company.
Morris was convicted in 2004 of 22 counts of securities fraud and is serving a 44 month sentence at Perry Correctional Institute.
He started serving that sentence in January 2008 after losing an appeal.
His attorney, Joel Collins of Columbia, told the parole board Morris’ prostate cancer had worsened while incarcerated.
Morris, confined to a wheelchair, spoke to the board via teleconference.
Collins told the board that considering the overcrowded state of the prison system, he couldn’t think of anyone more deserving of parole than his client.
However, the parole board turned down Morris’ request because of the seriousness of the crime he committed.
Morris will be eligible for parole again in another year. If not released early, he will finish his sentence in April 2010, according to state Department of Parole, Probation and Pardon officials.
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