His victims parted with about $700,000 for the promise of cars between 2015 and 2017, including another vehicle business that lost $345,000.
Andrews even defrauded his own daughter by opening a bank account in her name and secretly using it without disclosing it to the OA.
The Crown described his case, which was a joint-prosecution by the Ministry of Business, Innovation and Employment and police, as one of the most egregious bankruptcy breaches to come before the courts.
In the board's decision, released to the Herald, the parole assessment report referred to Andrews as having a medium risk of reoffending.
Andrews is also awaiting the outcome of an appeal against his convictions and sentence, which was heard in June.
"Andrews spoke to the board about his appeal and the grounds for it, he told us that he has remorse and is accountable, and he expressed his concern about his continued incarceration because the Court of Appeal decision is not available," the decision reads.
On direct questioning, the board noted, Andrews struggled to articulate his high-risk situations but emphasised he wants to respect the justice system.
"He said he is guilty of a number of things that will not happen again," the decision reads.
Andrews' lawyer, Marie Taylor-Cyphers, said the board could consider releasing the con-man into the community to complete programmes and commented on the possibility of the appeal being partially successful, which would result in a bail application.
"She anticipated that if he was on parole that would provide a scaffolding that the courts could work around," the decision reads.
But the board said Andrews remains a risk to the community while he is yet to undertake any rehabilitation or produce a robust release proposal approved by the Department of Corrections.
"He has prepared a safety plan but it is yet to be vetted by a professional, and he has not had any kind of hui to share that plan and his risks. Without that work his risk remains undue. Parole is declined."
Andrews was previously jailed in 2013 for 15 months for controlling a business while bankrupt, obtaining credit by deception and concealing two bank accounts.
When sentencing him, Judge Thomas Ingram said at the time that Andrews "deceived and preyed on vulnerable people".
"I have met some liars in my 35 years working in the courts but the lies you have told have been significantly outstanding, and you even had the jury in fits of laughter because your explanations were so improbable," the judge said.
Andrews will be seen again by the board in April next year. His statutory release date is December 10, 2024.
