Wednesday June 27, 2007
Editorial Cartoon by Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator – Wednesday June 27, 2007
Conrad Black trial goes to jury
Jury deliberation on the criminal charges faced by media baron Conrad Black moved a step closer after the lawyers made final arguments in court. The jury is expected to retire on Wednesday to consider its verdict on the fraud trial of Lord Black.
The former newspaper tycoon is accused of stealing $60m (£30m) from Hollinger International when he was in charge of the group, which he denies.
If convicted, he faces prison and steep financial penalties.
The lengthy trial has centred on whether the entrepreneur who built up a media empire from a single loss-making newspaper in Quebec profited at the expense of shareholders by illegally using “non-competition” payments.
The payments came at a time when Hollinger, once owner of Britain’s Daily Telegraph, the Chicago Sun-Times and the Jerusalem Post, was selling hundreds of newspapers in the US and Canada.
These are designed to reimburse a company for not competing in a market it has exited. (Source: BBC News)