Businessman and convicted sex offender James Wallace has failed in a bid to lift his release conditions

Business Desk reports the former knight appeared before the Parole Board last Friday - he still maintains he's innocent.

Wallace was jailed for two years and four months for indecently assaulting three victims at his Auckland mansion in the early 2000s, 2008 and 2016.

He was released in 2023 on special conditions, which are in place until September this year.

They include staying at home unless given prior approval to leave, and having an approved list of visitors.