A Quebec man has won $13.1 million in compensation for his wrongful conviction in an armed robbery that took place almost 50 years ago.

Rejean Hinse, now 73, was wrongly implicated in the Dec. 14, 1961 armed robbery of a couple who lived in Mont-Laurier, Que.

The victims wrongly identified Hinse as one of the culprits and later identified him in a police lineup.

In September 1964, Hinse was handed a 15-year sentence. He was paroled after five years, later serving 10 years probation.

Hinse always maintained his innocence and was acquitted by the Supreme Court of Canada in 1997, as a result of fresh evidence. At that time it was determined that he had been the victim of a botched investigation by police.

He later filed a civil lawsuit against the federal and Quebec governments, which was heard over a six-week period last year.

The Quebec government reached a $4.5-million settlement with Hinse prior to judgment, while a condemnation against the federal government compels it to pay the wrongfully convicted senior $8.6 million in compensation.

Hinse's lawyers say the settlement is believed to be "the most significant compensation of its kind so far in Quebec and even throughout Canada, for a victim of wrongful conviction."

Lawyer Guy J. Pratte told reporters Thursday that his client has lived in a "psychological prison for 50 years" without apology or assistance from his government, which led to the condemnation and the hefty compensation awarded to Hinse.

CTV Montreal's Maya Johnson said an emotional Hinse spoke to media on Thursday morning, indicating he is pleased with the compensation and wants to move on with his life.

"Although there is some sense of relief now and some sense of satisfaction, finally that justice has been served, it's still difficult," Johnson told CTV News Channel on Thursday afternoon.

"Because he's now 73 years old and essentially most of his life he spent fighting to prove his innocence. And those are years now that he says he'll never get back."

With a report from CTV Montreal's Maya Johnson