Post details: Conrad Black Convicted of Fraud

07/13/07

Permalink 11:54:30 am, Categories: Juicy News From The World Of Business 156 words  

Conrad Black Convicted of Fraud

This is breaking news on the BBC. Here is a snippet:

Media tycoon Conrad Black has been convicted of three charges of fraud and one of obstructing justice by a jury in Chicago.

But Black was found not guilty of separate charges of racketeering, wire fraud and tax evasion.

Black was facing 13 charges associated with claims that he stole $60m from investors in the newspaper firm Hollinger International which he ran.

The jury took 12 days to reach a verdict in the high-profile case.

Full BBC Article Here

I have been following the Conrad Black saga since last year as he is a fellow Torontonian. And the words "How The Mighty Have Fallen" spring to mind. At this point I believe there will probably be an appeal, but this still will constitute a very sad day for Mr. Black. At this point it is almost certain that he will go to prison in the USA.

Sue
XOXO

Comments:

Comment from: sue [Member] Email · http://www.nuttinbutpimp.com/
I guess I am a bit biased because we know someone who was ruined financially by ENRON at the age of 70, and had to go back to work at his age because of the greed of those convicted of fraud. Perhaps this is why "how the mighty have fallen" was the first thought in my mind when thinking of Black.
PermalinkPermalink 07/13/07 @ 14:18

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