Conrad Black was CEO of Hollinger International, a media company. Black stacked his board with influential neo-conservatives like Henry Kissinger and used its cash to finance his personal life.
He is one of the most arrogant people I've never met. I heard a radio interview he did a few weeks ago in which he dismissed all the charges against him as completely unfounded and trivial. But the judge in his case did not agree -- sending Black to jail for six-and-a-half years and making him pay $6.1 million -- the amount he stole from Hollinger.
Interestingly, Black could have saved himself from jail. According to Sunday Herald, in 2003, he signed an agreement to pay $7.2 million to settle charges that he defrauded Hollinger. Without Hollinger board approval Black took non-compete payments then sold off newspapers to Horizon, his private company, using phoney valuations to pay off the $1.9 billion Hollinger owed in 1998.
It would not have surprised me if he had tried to use his ties to neoconservatives to get the government to back off from its prosecution. But given that government's unpopularity, it could not afford to be seen helping this pompous kleptocrat.
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Reader Comments (Page 1 of 1)
12-21-2007 @ 1:12PM
LAWMANTOO said...
OLE CONNIE SHOULDA BOUGHT A BUS TICKET OUT OF TOWN WHEN HE STOLE THAT MONEY. HE COULD HAVE BEEN ON THE BEACH IN TOBAGO OR SOMEPLACE. GREED DOES FUNNY THINGS TO PEOPLE.
12-23-2007 @ 7:15AM
Bonnie said...
It would seem that Conrad Black's financial losses have just begun. This week an American judge ruled that the SEC could use documents and information from his two trials in their investigation of alleged SEC violations on the part of Conrad Black. There are numerous other civil suits pending. Public statements made by Mr. Radler and Mr. Black's codefendents in his criminal trial regarding their culpability (thereby admitting to having broken the law) bodes poorly for Mr. Black's ability to defend himself in these lawsuits. We must also remember that the burden of proof is much lessened in civil as opposed to criminal proceedings. It is quite possible that the end result of all the future legal wranglings could successfully impoverish Conrad Black.
It is my opinion that this would be the ultimate fitting end to Mr. Black's fraudulent and criminal activities. I don't believe that sending him to jail will not encourage him to examine himself honestly, or to admit to hubris, greed and an exaggerated understanding of his sense of entitlement. However, losing all of his assets may be the jolt he needs.
Finally, perhaps his confessors in the Catholic Church, which Mr. Black embraced some years ago, could consider having an open and frank discussion with the man. However unpalatable some discussion points may be, only by accepting not only his own culpability, but his moral turpitude, can Mr. Black hope to salvage his soul.
It has indeed been a sorry mess.