Theatre moguls Garth Drabinsky and Myron Gottlieb have had their appeals of their 2009 fraud convictions rejected – but their sentences both reduced – by the Ontario Court of Appeal on Tuesday. Drabinksy and Gottlieb were each convicted of two counts fraud and one count of forgery after new management of their theatre company, Livent Inc., discovered financial irregularities and the company filed for bankruptcy protection in 1998. Each man’s sentence was reduced by two years, meaning Drabinsky will spend five years behind bars, and Gottlieb four years. The appeal court judges reduced the sentences in consideration of the lack of any actual financial loss caused by the fraud.