He had pleaded guilty to possession of a Class-A drug but at sentencing Judge Russell Collins ordered permanent name suppression of the man's name, occupation and company.
The Crown and the Herald's lawyers argued against suppression, but the judge said naming the man would cause undue hardship to his family and business.
The businessman was a minor player in a covert police sting on a drug ring allegedly selling cocaine and methamphetamine to high-flying clients.
Operation Ceviche led to 13 arrests and the seizure of 760g of cocaine, worth $300,000 and $81,000 cash in late August.
Cocaine sells for around $7000 an ounce or $400 a gram when supplied in the smaller amount.
Police were convinced the large amount of cocaine was for the businessman's personal use to feed his addiction,otherwise he would have faced the more serious charge of possession of a Class-A drug for supply.
In a press release at the time of the arrests, Detective Senior Sergeant Lloyd Schmid said the cocaine was a significant find.
"Cocaine is usually picked up in much smaller amounts, so [the] find is indicative of people who have been heavily involved in persistent, premeditated, career drug dealing.
"These offenders were creating some fairly identifiable cocaine . The drug was being mixed with another substance and moulded into ounce-sized bricks with a hand-made wooden press," said Schmid.
"These people who've been living beyond their means by selling drugs to others, and despite some attempts to conceal their offending, they've now been fully exposed".
