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Conrad Black Found Guilty of Fraud Charges
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A Chicago jury found Canadian media magnate Conrad Black guilty on several criminal fraud charges. Black and three other executives at Hollinger International had been accused of swindling shareholders out of more than $60 million. A federal grand jury in Chicago indicted Black and three former associates two years ago, on fraud and other charges. They say that Black and his associates kept payments for themselves that should have gone to Hollinger and its investors. Black was accused of using the company plane to fly himself and his wife on a vacation, and ordering Hollinger to pay $40,000 of a $62,000 birthday party for his wife in New York.
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