Disgraced former Labor MP Eddie Obeid learns parole fate

FORMER NSW Labor powerbroker Eddie Obeid will be released from prison almost three years to the day since he was sentenced.

The 76-year-old was granted parole with strict conditions at a private meeting with the State Parole Authority today.

The conditions include that he not engage in any activity paid or unpaid involving the control of money or assets of other people or organisations.

Obeid was sentenced in December 2016 to five years behind bars with a non-parole period of three years after being found guilty and convicted of misconduct in public office.

He will be released on December 14.