Former media mogul Conrad Black jailed

CHICAGO, Illinois (CNN) — A federal judge Monday sentenced former media tycoon Conrad Black to 6.5 years in prison for his role in defrauding shareholders and skimming $60 million from his Hollinger International newspaper conglomerate.

Conrad Black’s media empire once stretched across three continents.

Black, 63, was convicted in July of mail fraud and obstruction of justice. He has vowed to appeal his conviction and has 10 days to begin the process.

During Monday’s sentencing hearing, Black was also ordered to pay a $6 million fine.

“This sentence will send a message that you do not engage in this type of behavior,” said U.S. District Judge Amy St. Eve. “The court’s sentence should adequately deter others from engaging in this conduct.”

“Mr. Black, you have violated your duty to Hollinger and its shareholders,” the judge said. “I frankly cannot understand how someone of your stature can engage in the conduct you did and risk everything.”

Read more

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s