Friday, July 13, 2007

Conrad Black convicted of fraud

(Waridaad) - 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.

The British peer, 62, was impassive as the verdicts were read out.
He had faced 13 charges associated with claims he and three colleagues stole $60m (£29.5m) from investors in the newspaper firm Hollinger International.

The guilty verdicts cap a remarkable fall from grace for Black, once one of the UK's wealthiest and most influential media figures.

"Non-compete" guilt

The jury of nine women and three men took 12 days to reach a verdict in the high-profile case, after initially telling the judge that they could not reach an unanimous judgment.

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