A businessman who fled to Thailand while he was being investigated by ASIC has been sentenced to at least three years behind bars for fraud, after he told a court he was not "living the high life" or having "one big party" despite spending money on cocaine and lavish meals.

John Falconer, 70, the former director of technology company TZ Ltd, was extradited from Thailand to Australia in September 2017 after he helped to transfer $6.2 million in cash and shares from TZ between 2006 and 2008, then gave false information to the ASX.

Jailed: John Falconer, pictured in Thailand in 2013.

Falconer personally benefited by $1.416 million, while the rest of the money went to other beneficiaries, including to pay the large gambling debts of his co-offender Andrew Sigalla.

Falconer pleaded guilty this month to six offences under the Corporations Act, including dishonestly breaching his duty as a director with the intention of gaining an advantage.