An appeal by one of the region’s biggest fraudsters has been shot down.

Daniel P. Reeve appealed his parole conditions in hopes of starting his own business. On Tuesday, CTV learned that the parole board has denied his request.

In 2017, Reeve was convicted of defrauding more than 40 people out of a combined $10 million. He was ordered to make restitution, paying his victims the $10 million back or face another decade behind bars.

He was sentenced to 14 years in prison, less time served—he had been in custody since 2012.

He was granted parole late last year. One of the conditions was that he would not own his own business or be self-employed. He appealed the condition in January.

Documents from the Parole Board of Canada show that Reeve’s request was denied “to avoid further victim financial harm.”

The document say that Reeve should not be in a position of responsibility, paid or unpaid, for the management of finances or investments.

It also mentions court documents describing Reeve as having “no moral compass and having no remorse or empathy for the victims.”

It says the motive behind the frauds was to “bolster his ego and fuel his lavish and extravagant lifestyle.”

The Parole Board says, based on Reeve’s history of manipulation and lack of empathy for his clients, he needs supervision so that he doesn’t take advantage of unsuspecting individuals again.

That, the board says, wouldn’t be possible if he was allowed to run his own business.