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Conrad Black Found Guilty - Could Face up to 20 Years in Prison
Former media tycoon Lord Conrad Black has been found guilty of mail fraud and obstruction of justice. They judged that he and three co-defendants had defrauded Hollinger International shareholders and helped themselves to $60 million from the newspaper conglomerate.The Chicago jury had acquitted Black of wire fraud, tax fraud, and racketeering charges, but these new guilty verdicts - on three counts of mail fraud and one count of obstructing justice – means that Black's vast personal fortune is now at risk.
Black did not show any visible, emotional reaction as the verdicts were read.
According to Jerry Toobin CNN Senior Legal Analyst : "Conrad Black will complete a remarkable fall from grace. He will certainly be sentenced to prison, perhaps for a considerable period of time." Some say as long as 20 years, he is 62 at the moment.
Because Black is British, he could serve his time in the United States or be transferred to a British prison.
Black's associates Peter Atkinson, Jack Boultbee and Mark Kipnis were all found guilty on mail fraud charges.
George Tombs who is writing Black’s second biography to be published this Autumn described Black as a modern-day Citizen Kane "This is somebody who's had tremendous power and he's lost it."
At the time of the fraud, Hollinger was the world's third-largest publisher of English-language newspapers with flagship titles which included the UK's Daily Telegraph, Canada's National Post, the Jerusalem Post as well as hundreds of community newspapers in the US and Canada.
Lord Black will be appealing the decision.
conrad black hollinger trial guilty
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