Black Holds $60M Offshore, Court Hears

Convicted media baron accused of hiding money in Gibraltar
By Jason Farago,  Newser Staff
Posted Aug 2, 2007 8:41 AM CDT

(Newser) – Disgraced media mogul Conrad Black has shuffled $60 million to an offshore account into Gibraltar, an affidavit filed at his Chicago bail hearing alleged yesterday. Canada's Globe and Mail reports that Juval Aviv, a private investigator with a checkered past, told the court that he had uncovered a complex network of secret bank transfers while working for Black's Hollinger Media.

The allegations could lead to a harsher sentence for Black, who remains free after posting $21 million in bail and whose lawyers attacked Aviv as "a double-dealing con artist." During the hearing the presiding judge also refused to allow Black to return to Canada, to which he gave up citizenship upon taking a seat in the British House of Lords.