Conrad Black and Hollinger International are the focus of a criminal investigation being conducted by U.S. federal prosecutors.
Black and his former deputy David Radler who are currently facing a civil lawsuit from the SEC as well, have been accused of fraudulently taking $85 million from Hollinger International.
A Business.telegraph article says:
“The US Attorney’s Office for northern Illinois filed a motion to intervene in a civil lawsuit by the Securities and Exchange Commission against Lord Black, Mr Radler and Hollinger Inc. It said in court papers: ‘The criminal investigation seeks to determine whether the defendants and others fraudulently diverted corporate assets and opportunities owned by Hollinger International to themselves and to companies they controlled.’
The investigation was disclosed when federal prosecutors intervened in the SEC probe to prevent Lord Black from obtaining documents he had been seeking. The prosecutors said it could hamper their investigation if Lord Black received them.”
The plot seems to be getting thicker.
According to a GLOBEANDMAIL.COM article,
“The U.S. Securities and Exchange Commission has warned former Pentagon adviser Richard Perle that it may sue him for his role in the alleged looting of Hollinger International Inc., the Chicago-based media company once controlled by Richard Perle.
Mr. Perle, 63, a Hollinger director, said in a telephone interview that he received and responded to a so-called Wells notice, a formal warning that the agency’s enforcement staff has determined that evidence of wrongdoing is sufficient to bring a civil lawsuit.”
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