Black Convicted of Fraud

Tycoon to be sentenced on multiple counts of fraud, obstruction
By Greg Atwan,  Newser User
Posted Jul 13, 2007 11:11 AM CDT
Conrad Black, former head of the Hollinger International Inc. newspaper empire, arrives at the federal building in Chicago, Friday, July 13, 2007, where the jury has reached a verdict in his fraud and...   (Associated Press)
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(Newser) – A federal jury convicted British Lord and former media baron Conrad Black on three counts of fraud and one of obstruction of justice today. Black dodged a racketeering charge, while three associates on trial with him were convicted of multiple fraud counts after 12 days of deliberation.

Black faces up to 35 years in prison and $1 mil in fines, though the US district court is expected to release him on bond pending his imminent appeal. Black is the former chairman of Hollinger International, a media empire from which he stole millions in unauthorized payments. (Read more Conrad Black stories.)