Last week, Associate Justice Minister Chester Borrows requested Elliott resign as a JP and and yesterday he announced he had received and accepted his resignation. Elliott could not be reached for comment.
Mark Hammond, one of the lawyers who acted for him, said there were "obvious repercussions" for his client and that he was suffering from those.
"He's been through a lot and he's finding it quite hard to get himself re-established again so, yeah, I think the effects on him have been quite severe."
Mr Borrows said Elliott had made a submission that the conviction should not prevent his continuing as a JP, but he had disagreed.
"Mr Elliott defrauded the school he was entrusted to run, and to allow him to remain in office would bring disrepute to the office of justice of the peace," the minister said.
JPs had "always been people of high standing in our communities. The nature of their role means they must be people of unquestionable honesty and integrity".
After Elliott's conviction, Royal Federation of New Zealand Justices' Associations registrar Alan Hart said the association had "suggested" to Elliott that he resign.
"We are pleased to see this issue resolved because it reflects on all of us."