Richard John Christopher Brown, of Downs Road, was probably suffering from depression and a form of kleptomania when he ripped off the owner of the Exeter nightclub where he worked.
The Southampton University graduate simply hoarded the cash – never spending a penny – and claimed the thefts were a 'cry for help'.
The highly intelligent 27-year-old, said he had become depressed while doing a teacher training course in Exeter, where he got a job as a part-time bartender at the Timepiece nightclub.
Brown was eventually found out when the club's owner watched him on CCTV in May last year – but not before two other members of staff had come under suspicion.
The Court of Appeal in London heard that when Brown's home was searched, £42,465 was found in a bag at the end of his bed and a further £9,140 was discovered in a guitar case he kept at a friend's house.
All the money was returned to the nightclub's owner – who the court heard had been 'devastated' by what had happened to his business.
Lord Justice Scott Baker, who heard Brown's sentence appeal, said of the owner, "He had been in business for 17 years and had never had anything on this scale happen before.
"The problem had affected his health and he worked extremely long hours to discover where the money was going. He said it had diverted his attention from other activities."
Brown admitted two counts of theft at Exeter Crown Court and was jailed for a total of 27 months in February this year. A further four offences of theft were taken into consideration.
He had no previous convictions, but two cautions for previous thefts from employers.
Lord Justice Scott Baker, sitting with Mr Justice King and Judge Christopher Moss, said, "These were unusual offences, not apparently committed for financial gain.
"All the money was recovered."
He added that it was likely Brown was suffering from a mild depressive disorder, as well as a form of kleptomania.
Concluding, he said that the sentencing judge's starting point was too high and that Brown's jail term should be cut. Brown had also been making the best of his time at the open prison where he is detained, he added.
"We think this if one of those cases where the fact of imprisonment is going to be of much greater significance to this man than the actual period served. These offences caused great anguish to the loser, but on the other hand all the property was recovered.
"It is also in our judgement of some materiality that the offences appear to have some kind of psychological background.
"Taking all these factors into account, we think that the sentence imposed by the judge was by some measure too high."
The judges allowed the appeal, cutting Brown's sentence to 18 months.