| Lord Conrad Black - GUILTY and going to US prison Not a blue collar one either because he is not an American citizen! He's British and, though he has applied to become Canadian once again, he will get NO preferential treatment as he is a convicted felon and Canada does not allow criminals to become Canadian - let alone one who so publicly renounced his Canadian citizenship so he could become British aristorcracy. Say goodbye to your decadant lifestyle sucker.
LORD BLACK YOUR POMPOSITY WILL NOT HELP YOU IN JAIL.
Conrad Black guilty of obstruction and mail fraud
3 former Hollinger International associates convicted of mail fraud
Last Updated: Friday, July 13, 2007 | 12:36 PM ET
CBC News
Former media baron Conrad Black has been found guilty of obstruction of justice and three counts of mail fraud, a Chicago courtroom was told Friday morning on the 12th day of deliberations.
Black was said to have remained expressionless as the verdict following the nearly four-month trial was read.
The nine-woman, three-man jury found the Montreal-born Black not guilty on nine other charges, including mail fraud, wire fraud, racketeering and tax fraud.
The conviction could mean a lengthy sentence for Black, who 62 years old. Obstruction of justice carries a maximum penalty of 20 years imprisonment, while each mail fraud charge carries a maximum prison term of five years.
Black could also face a penalty of up to $1 million US.
Black's three Hollinger International co-defendants, Jack Boultbee, Mark Kipnis and Peter Atkinson, were all convicted of three counts each of mail fraud, meaning they could each face up to 15 years in prison and a fine of up to $750,000 US.
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Non-compete payments key in trial
Hollinger International started selling off its extensive newspaper assets in the late 1990s in a series of transactions.
The U.S. government — with star prosecution witness and former Black chief lieutenant David Radler — alleged Black devised a scheme to improperly divert $60 million US from those sales to himself, and to Radler, Boultbee, Atkinson or companies they had an interest in.
Kipnis, the prosecution alleged, facilitated the diversions.
The prosecution said the money should have gone to Hollinger International and its shareholders, but instead, was dressed up as non-compete payments — money the buyer of a business pays a seller in return for promising not to start up a competing business.
The government alleged the non-compete deals in this case were frauds — cover stories invented to allow Black and the co-defendants to transfer tax-free money into their pockets. The fraud allegations around the sale of these newspapers were the heart of the prosecution's case.
The defence argued that non-compete agreements are routine in the newspaper business. In all these transactions, it said, the payments arising out of them were legal, appropriate, disclosed to Hollinger International auditors and authorized by the board. If there was any wrongdoing, defence lawyers said, it was by Radler, who had already pleaded guilty to fraud and who the defence accused of lying to fulfil the conditions of his plea bargain with the prosecution.
Boultbee, Hollinger's former chief financial officer, and former general counsel Kipnis each faced 11 counts of wire fraud, mail fraud and filing false corporate tax returns. Atkinson, a former company vice-president, faced seven charges.
All four defendants had pleaded not guilty. None of them testified during their trial.
After 15 weeks of testimony, more than 40 witnesses and about 700 documents, the jurors were handed the case on June 27.
Radler, Black's former confidant, pleaded guilty to fraud and received a 29-month sentence as part of an agreement to act as the key witness for the prosection. |