Media baron receives sentence for fraud
The price of Conrad Black’s misdeeds at the helm of his now-defunct newspaper empire has been set at six and a half years in a U.S. prison.
On top of his time in jail, Black’s convictions for fraud and obstruction of justice also carry a $125,000 US fine and the forfeiture of $6.1 million US.
Standing expressionless before Judge Amy St. Eve in a Chicago courtroom yesterday, the former newspaper magnate was told he will serve a total of 78 months in prison and afterwards a two-year period of unsupervised release.
"I cannot understand how someone of your stature could engage in the conduct you engaged in and put everything at risk," St. Eve told Black. After giving Black a lighter than expected prison term, St. Eve also sentenced two other co-defendants who were convicted of fraud earlier with him.
After the sentencing Black was smiling, offering only "No comment," as he left the courtroom with his family and offered a tight-lipped "the fact that we’re appealing speaks for itself."
Black was convicted of paying himself millions of dollars in corporate money and disguising the money as stemming from payments made in conjunction with the sale of Hollinger assets.