A former New York Islanders co-owner who received a 10-year prison term for a fraud conviction had his sentence cut in half Wednesday by a judge who cited his good deeds and cooperation with prosecutors.

Southern District Judge Loretta Preska said Paul Greenwood, 69, deserved a reduction to five years. She noted that he regularly did charitable acts long before he became embroiled in an over half-billion-dollar financial fraud that spanned a dozen years.