Tax Reform in This Election Year: It's Not Likely
Walmart's New Health Food Push: Is It Too Hard to Swallow?No one except Clint Eastwood has ever escaped from Alcatraz. Of course, he did it in a movie. No one ever managed this feat in real life.
Alcatraz closed years ago. But Conrad Black may want to watch a few prison flicks before he's sent up the same river.
Black, the former head of newspaper company Hollinger Inc. (TSE: HLG), was charged with racketeering and misuse of corporate funds. He was found "not guilty" on those charges.
He was convicted of mail fraud and obstruction of justice. Prosecutors said that Black and three associates funneled money from the sales of Hollinger newspapers into accounts which they controlled. The money, as much as $60 million, was to pay for Hollinger not to compete with the firms that bought its newspaper properties. Nice work, if you can find it.
Black now faces up to 35 years in prison, as much as $1 million in fines, and a lot of legal fees. At age 62, the member of the House of Lords may not make it out alive.
Sixty million is a lot to make disappear without people noticing. Black can think of better ways to do it next time while he is on his break from making license plates.
Douglas A. McIntyre is a partner at 24/7 Wall St.
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Reader Comments (Page 1 of 1)
7-13-2007 @ 10:02PM
Spook said...
Hey dumb-dumb, "At age 62, the member of the House of Lords may not make it out alive."
The Feds will be lucky if he serves 7 years. He will be out in 5. He may not even show up...he isn't an American citizen and this case isn't exactly on the same scale as Enron and World Com. Everybody knows and obstruction charge is nonsense.
7-16-2007 @ 7:07PM
mahoooba said...
To whom all,
yep, they nailed the S.O.B. His career as a dishonest broker started when he tried to steal pension surpluses from a grocery store he once managed-- over 20 yrs. ago. Finally, finaaaaly, after 20 years of fraud and crime against the middle class--- finaaaaaly he pays the piper. he will be "blackie" once he gets married in prison to the tattoed jail cook. He will get veneral warts and the right-wing writer Barbara 'the veal" will die of horrible warts after the 1st conjugal visit.
Ya hotta love it. Oh the irony-- gave up his canada citizenship and now is stranded in the farm operation U.S. prison system. canada wasn't good enough hahahahahaha-- who ahahahahaha. Can't get back in.
He will be known as Black "of vigin ass cook house harbour" -- no longer of cross harbour!!!
Ahhhhhhhhahahahahahaha!!!!!!!!!!