Black, Conrad

Black, a Canadian-born member of the British House of Lords who counted among his associates many high-profile neoconservatives like Richard Perle, was initially charged in 2005. When his trial started in Chicago in March 2007, the original federal charges brought against Black included racketeering, mail and tax fraud, money laundering, and obstruction of justice. U.S. prosecutors alleged that Black cheated stockholders out of some $80 million in assets, largely through the inappropriate sales of company holdings. The estimated loss to Hollinger shareholders was eventually reduced to $6 million.

After his conviction in July 2007 on charges of defrauding shareholders and obstruction of justice, the New York Timesreported, "The verdict represents a remarkable turn in fortune for Mr. Black, the son of a wealthy Canadian businessman and society fixture who once commanded a far-flung media empire that included the Daily Telegraph in London, the Jerusalem Post, and the Chicago Sun-Times, as well as scores of other papers in the United States, Canada, and Australia.”