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Lord Conrad Black accused of stealing $60m (£31m)

Wednesday, 21 March 2007

Lord Conrad Black accused of stealing $60m (£31m)

Canadian-born British peer Lord Conrad Black has been accused of the theft of $60m (£31m) from Hollinger International when he was working as chief executive for the publishing company.

Lord Conrad Black, 62, and three other former executives is standing trial for fraud and racketeering charges, and it is alleged that Conrad Black used the money for his personal pleasure by funding a very expensive lifestyle at the expense of Hollinger International shareholders.

Conrad Black has denied the allegations against him but if he is convicted he may receive prison sentences of more than 100 years, as well as millions of dollars in fines. Lord Conrad Black's lawyer Edward Genson maintained that his client was "not guilty of each and every charge in this indictment."

Press baron Lord Conrad Black faces charges of fraud, racketeering, money laundering and obstruction of justice, and the trial could take up to four months it has been reported.

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