This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6897991.stm
The article has changed 18 times. There is an RSS feed of changes available.
| Version 7 | Version 8 |
|---|---|
| Conrad Black convicted of fraud | Conrad Black convicted of fraud |
| (10 minutes later) | |
| Media tycoon Conrad Black has been convicted of three charges of fraud, and one of obstructing justice. | Media tycoon Conrad Black has been convicted of three charges of fraud, and one of obstructing justice. |
| But Black was found not guilty by the Chicago jury of other racketeering, wire fraud and tax evasion charges. | But Black was found not guilty by the Chicago jury of other racketeering, wire fraud and tax evasion charges. |
| The British peer, 62, was impassive as the verdicts were read out. His lawyers later said that he would appeal. | The British peer, 62, was impassive as the verdicts were read out. His lawyers later said that he would appeal. |
| He had faced 13 charges associated with claims he and three colleagues stole $60m (£29.5m) from investors in the newspaper firm Hollinger International. | 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. | 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. | 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. |
| It only takes one fraud charge and the man is disgraced Joshua Rozenberg, Daily Telegraph class="" href="/1/hi/business/6270162.stm">Black: the charges class="" href="http://www.bbc.co.uk/blogs/thereporters/robertpeston/">Editor Robert Peston's blog | |
| 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. |
| 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. |
| Black ran one of the largest newspaper groups in the world | |
| Sentencing will take place at a later date. | Sentencing will take place at a later date. |
| Legal experts said that although he had been cleared on several charges, the convictions for fraud were damning. | Legal experts said that although he had been cleared on several charges, the convictions for fraud were damning. |
| "It only takes one fraud charge and the man is disgraced and finished," said Joshua Rozenberg, legal editor of the Daily Telegraph, once owned by Hollinger. | "It only takes one fraud charge and the man is disgraced and finished," said Joshua Rozenberg, legal editor of the Daily Telegraph, once owned by Hollinger. |
| "He is clearly facing a lengthy prison sentence." | "He is clearly facing a lengthy prison sentence." |
| Key testimony | 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 Black had personally initiated a fraudulent scheme to pocket payments which rival firms had agreed to pay Hollinger to limit competition in key markets. | Radler told the court Black had personally initiated a fraudulent scheme to pocket payments which rival firms had agreed to pay Hollinger 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. | 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 spanned the globe, including titles such as the National Post of Canada and the Jerusalem Post. | Hollinger's newspaper empire once spanned the globe, including titles such as the National Post of Canada and the Jerusalem Post. |