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| Version 3 | Version 4 |
|---|---|
| Conrad Black convicted of fraud | Conrad Black convicted of fraud |
| (20 minutes later) | |
| Media tycoon Conrad Black has been convicted of three charges of fraud and one of obstructing justice by a jury in Chicago. | 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. | 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. | 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 | "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. | |
| Black was found guilty of taking money owed to investors in the form of "non-compete" payments originating from the sale of newspaper titles. | Black was found guilty of taking money owed to investors in the form of "non-compete" payments originating from the sale of newspaper titles. |
| Black ran one of the largest newspaper groups in the world | |
| But he was cleared of abusing company resources to fund his extravagant lifestyle. | But he was cleared of abusing company resources to fund his extravagant lifestyle. |
| Three of Black's associates - Jack Boultbee, Peter Atkinson and Mark Kipnis - were also found guilty of fraud at the end of the 16-week trial. | Three of Black's associates - Jack Boultbee, Peter Atkinson and Mark Kipnis - were also found guilty of fraud at the end of the 16-week trial. |
| Black was present in court to hear the verdict along with his wife, Barbara Amiel Black. | Black was present in court to hear the verdict along with his wife, Barbara Amiel Black. |
| The charges on which he was found guilty carry a maximum penalty of 35 years in prison. | The charges on which he was found guilty carry a maximum penalty of 35 years in prison. |
| Sentencing will take place at a later date. | Sentencing will take place at a later date. |
| Key testimony | |
| David Radler, the British peer's former second-in-command at Hollinger, testified against Black after himself admitting fraud in return for a reduced sentence. | David Radler, the British peer's former second-in-command at Hollinger, testified against Black after himself admitting fraud in return for a reduced sentence. |
| Radler told the court that Black had personally initiated a fraudulent scheme to pocket payments which rival firms had agreed to pay to Hollinger in order to limit competition in key markets. | |
| Black's lawyers argued that Radler was a "self-confessed liar" and that the payments had been authorised by the company. | |
| Hollinger's newspaper empire once included titles such as the National Post of Canada, the Jerusalem Post and the Daily Telegraph. | Hollinger's newspaper empire once included titles such as the National Post of Canada, the Jerusalem Post and the Daily Telegraph. |