Monday, July 16, 2007

Conrad Black Could Get 20 Years

This is “old news” in the web world, but worth reporting nonetheless: media mogul and fellow Canadian Conrad Black could face upwards of 20 years in the slammer after having been found guilty on several counts of fraud and obstruction of justice.

The former head of Hollinger International will likely not serve that much time: I wouldn't be surprised if he serves no time at all; or received the standard "house arrest" sentence that is the result of many high-profile cases. Not surprisingly, Black has reportedly already gotten the wheels in motion for an appeal.

The charges against Black range from fraud in relation to alleged shady payments under a non-compete clause, to obstruction of justice for allegedly removing boxes (of which the contents remain unknown) from Hollinger Inc. offices without authority. This was supposedly prior to receiving a subpeona from the U.S. Securities and Exchange Commission. Along with three others from Hollinger, Black has been accused of embezzling US$60 million from the company.

Sentencing is scheduled for November. Does anyone actually think Black will serve time in jail? More important, does anyone believe he deserves to serve time? Or should he be released with a slap on the wrist?

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