Media Mogul Insists He Did No Wrong
John Edwards arrives at a federal courthouse during the eighth day of jury deliberations in his trial on charges of campaign corruption in Greensboro, N.C., Wednesday, May 30, 2012. Edwards has pleaded not guilty to six counts related to campaign finance violations over nearly $1 million from two wealthy donors used to help hide the Democrat's pregnant mistress as he sought the White House in 2008. (AP Photo/Chuck Burton) / Chuck Burton
Former newspaper mogul Conrad Black was called generous, caring and highly charitable, as well as scornful, defiant and without remorse before being sentenced Monday to 6? years in prison for swindling shareholders in his Hollinger International media empire out of millions of dollars.
Black, 63, a Canadian-born member of the British House of Lords renowned for his lavish lifestyle and flamboyant way with words, had faced up to slightly more than 8 years in prison under sentencing guidelines determined earlier Monday by U.S. District Judge Amy J. St. Eve.
Federal prosecutors wanted the silver-haired press lord, a talented biographer whose subjects include Franklin D. Roosevelt and Richard M. Nixon, sent to federal prison for as long as 24 years.
Defense attorney Jeffrey B. Steinback read to St. Eve portions of letters written on Black's behalf from singer Elton John, conservative writers William Buckley and George Will and former Canadian Prime Minister Brian Mulroney.
"This man has been a historian, has been an entrepreneur, he's been a statesman, a writer, a devoted husband, a loving father," said Steinback, who added that Black remains intent on pursuing an appeal.
Leading prosecutor Eric H. Sussman told the judge he did not question Black's accomplishments but that "Mr. Black stands here today convicted of stealing money from the company he founded and of obstructing the course of justice."
Unlike a bank robber who steals from strangers, "Mr. Black stole money from people he did know ... he stole money from people who put their trust in him," said Sussman, who added that Black continues to insist he did nothing wrong and "will continue with this conduct again if given the chance."
Two other former Hollinger executives, both Canadians, and a Chicago lawyer who worked for the big media holding company were convicted along with Black and also were due to be sentenced Monday.
While awaiting his sentence, Black had been prevented by court order from returning to Canada and required to remain either in the Chicago area or at his Florida estate. He has been free on $21 million bond.
A major point of dispute has been how to calculate the total loss to shareholders. Prosecutors put it at $32 million. But a pre-sentence report, prepared by the probation department, figured the loss at $6 million.
The lower number could mean a shorter sentence for Black if St. Eve accepts it.
Black was convicted by a jury July 13 of three counts of mail fraud. He also was convicted of obstruction of justice for removing boxes of documents from his Toronto offices although he knew investigators wanted them.
Also convicted on the fraud counts were Jack Boultbee, 64, former Hollinger chief financial officer; Peter Atkinson, 60, former Hollinger executive vice president, and Mark Kipnis, former Hollinger corporate counsel.
In its heyday when Black was chairman and CEO, Hollinger International owned the Daily Telegraph of London, the Jerusalem Post, the Chicago Sun-Times and hundreds of U.S. and Canadian community newspapers.
Black, Atkinson and Boultbee were convicted of paying bonuses to themselves without board approval out of the proceeds from the sale of Hollinger-owned newspapers. The money allegedly was disguised as "non-compete payments" - payments made by the buyers to guarantee they would not face competition from the former owners.
Black was acquitted of nine other charges, including racketeering.
Associated Press Writers Dave Carpenter and Don Babwin contributed to this report.
© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Black, 63, a Canadian-born member of the British House of Lords renowned for his lavish lifestyle and flamboyant way with words, had faced up to slightly more than 8 years in prison under sentencing guidelines determined earlier Monday by U.S. District Judge Amy J. St. Eve.
Federal prosecutors wanted the silver-haired press lord, a talented biographer whose subjects include Franklin D. Roosevelt and Richard M. Nixon, sent to federal prison for as long as 24 years.
Defense attorney Jeffrey B. Steinback read to St. Eve portions of letters written on Black's behalf from singer Elton John, conservative writers William Buckley and George Will and former Canadian Prime Minister Brian Mulroney.
"This man has been a historian, has been an entrepreneur, he's been a statesman, a writer, a devoted husband, a loving father," said Steinback, who added that Black remains intent on pursuing an appeal.
Leading prosecutor Eric H. Sussman told the judge he did not question Black's accomplishments but that "Mr. Black stands here today convicted of stealing money from the company he founded and of obstructing the course of justice."
Unlike a bank robber who steals from strangers, "Mr. Black stole money from people he did know ... he stole money from people who put their trust in him," said Sussman, who added that Black continues to insist he did nothing wrong and "will continue with this conduct again if given the chance."
Two other former Hollinger executives, both Canadians, and a Chicago lawyer who worked for the big media holding company were convicted along with Black and also were due to be sentenced Monday.
While awaiting his sentence, Black had been prevented by court order from returning to Canada and required to remain either in the Chicago area or at his Florida estate. He has been free on $21 million bond.
A major point of dispute has been how to calculate the total loss to shareholders. Prosecutors put it at $32 million. But a pre-sentence report, prepared by the probation department, figured the loss at $6 million.
The lower number could mean a shorter sentence for Black if St. Eve accepts it.
Black was convicted by a jury July 13 of three counts of mail fraud. He also was convicted of obstruction of justice for removing boxes of documents from his Toronto offices although he knew investigators wanted them.
Also convicted on the fraud counts were Jack Boultbee, 64, former Hollinger chief financial officer; Peter Atkinson, 60, former Hollinger executive vice president, and Mark Kipnis, former Hollinger corporate counsel.
In its heyday when Black was chairman and CEO, Hollinger International owned the Daily Telegraph of London, the Jerusalem Post, the Chicago Sun-Times and hundreds of U.S. and Canadian community newspapers.
Black, Atkinson and Boultbee were convicted of paying bonuses to themselves without board approval out of the proceeds from the sale of Hollinger-owned newspapers. The money allegedly was disguised as "non-compete payments" - payments made by the buyers to guarantee they would not face competition from the former owners.
Black was acquitted of nine other charges, including racketeering.
Associated Press Writers Dave Carpenter and Don Babwin contributed to this report.
Popular on MoneyWatch
- Reverse cell phone lookup service is free and simple
- Why geniuses don't have jobs
- Microsoft slashes Surface prices to lure buyers
- Look who doesn't deserve financial aid at NYU
- Chrysler expected to make Jeep recall refusal official
- Chrysler agrees to recall of Jeeps at risk of fire
- Top 10 professional life coaching myths
- NSA-style spying has been around for years
Re: "Media Mogul Insists He Did No Wrong"
He will have plenty of time to explain this to his cell-mate, assuming he doesn''t have a "heart attack" in the meantime, ala Kenny Boy...
New boycott targets! Yay!
Too bad i cannot boycott Mulroney, Nut I will never read another publication featuring Buckley or Will, and will never buy, recommend, or allow to be performed by any of my organizations any Elton songs.
Translation; "He is one of the elite, he is rich, you don''t punish rich white neocon people for their crimes, you only punish poor people and liberals"
Had I been the judge, the defense counsel would have just added ten years to the sentence for that insult to the US system of justice (although I might have been corrupt enough to keep that reasoning secret).
BlondMadison,
Re, re: "Conrad Black''s Daily Telegraph is Britain''s most right-wing, pro-business paper among the broadsheets. Funny how it''s always the same kind of people who are the real crooks. And they''re always the hypocritical, holier than thou a$sholes."
Posted by cdfoxtrot at 06:51 PM : Dec 10, 2007
"Couldn''t have said it better."
###
Indeed.
I am a little surprised and disappointed that CBS Newz chose to censor this highly pertinent comment from "cdfoxtrot".
Very poor show.
I am glad that you captured it.
Good work.
Posted by cdfoxtrot at 06:51 PM : Dec 10, 2007
Couldn''t have said it better.
Pure sickening. ALL of his assets and monies and homes and vehicles --all assets should be removed from him. Living the designer lifestyle - as a white collar social elite - and - being considered top of the line by collegues and the general publics.
Psycho-tic. The Fox and the Emperor''s clothing. What he did and would do again, is what corporate business is all about. Money.
Blond Madison
D*amned racist system.
Vanna White would never have gotten that much time.
This is great news that this excrement is going to prison, altough his sentence is far too lenient.
Hey Ruppert Murdoch, Richard Perle...how does this news grab you?
American justice in black and white, and Americans are really fricken tired of it.