Hollinger Inc. to co-operate in Conrad Black case

[DoYouEverWonder]

May. 15 2006

Toronto-based Hollinger Inc., a holding company formerly controlled by Conrad Black, has agreed to co-operate with United States prosecutors in Chicago who have charged the former media baron and other executives with fraud.

In return for the assistance, the U.S. attorney's office will not prosecute Hollinger for crimes Black and former executives Peter Atkinson, Mark Kipnis and Jack Boultbee may have committed regarding $16.55 million US in non-competition payments, Hollinger said in a statement Monday.

"This co-operation agreement is an important and positive step for Hollinger Inc., since it provides a clear distinction between the company and the actions of its former directors and officers," Randy Benson, Hollinger's chief restructuring officer, said in the statement.

"Our shareholders and other stakeholders will welcome that clarity as well as the certainty that the company will not be prosecuted by the U.S. government."

Prosecutors want Black, 61, to give back about $92 million they say he and his associates stole from publisher Hollinger International Inc.

http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20060515/hollinger_black_060515/20060515?hub=Canada


One more nail in Conrad Black's coffin. Chaulk up another one for Fitzgerald.

[acmavm]

1. Wish I had read Richard Perle's name amongst those being

prosecuted.

[maddezmom]

2. kick

[Robbien]

3. HollingerInc gets immunity from Justice(will testify against Conrad Black)

TORONTO, May 16 (UPI) -- Canada's Hollinger Inc., through which Conrad Black used to control an international newspaper empire, has received immunity from Black's U.S. prosecutors.

In exchange for helping the Chicago office of the U.S. Justice Department, the Toronto corporation has secured immunity from prosecution, the Guardian reported Tuesday.

That means Hollinger Inc. will not face action over any crimes allegedly committed by its former directors relating to $16.55 million in "non-compete payments" it received from its subsidiary, Hollinger International, publisher of the Chicago Sun-Times and smaller newspapers.

Black and three other former Hollinger Inc. executives have been charged with fraud. Trial is set for next March.

http://www.politicalgateway.com/news/read/13402

[Judi Lynn]

4. Here's more from the National Post, which was once owned by Conrad Black,

I believe...

Hollinger works with U.S. attorneys
Black dismisses move
Barbara Shecter and Theresa Tedesco, Financial Post
Published: Tuesday, May 16, 2006

Hollinger Inc., Conrad Black's former Toronto-based holding company, is co-operating with U.S. prosecutors who indicted the former press baron in exchange for avoiding possible charges in connection with the diversion of funds.

A lawyer representing Lord Black dismissed yesterday's public disclosure of the deal as "mere window dressing," saying Hollinger has been co-operating fully with U.S. officials for 18 months "under the intimidating threat of prosecution."

According to a written agreement between Hollinger and the U.S. Attorney for the Northern District of Illinois, Hollinger agreed to co-operate after it was notified by U.S. prosecutors of evidence former officers and directors had "violated federal criminal law in a manner that implicates Inc. criminally."

Last year, the U.S. government accused Lord Black, former chief executive of Hollinger, and a handful of associates, of several counts of fraud linked to newspaper sale transactions.
(snip/...)

http://www.canada.com/nationalpost/financialpost/story.html?id=15e12aae-113c-4da9-8ee6-b70f966421a2&k=96293

~~~~~~~~~~~~~~~~~~~~~~~~~~

....Perle's many business interests have been a source of controversy during and after his tenure in government. Among other engagements, he is co-chairman and director of Hollinger, Inc., a partner of Trireme, a non-executive director of Autonomy and a director of the Jerusalem Post (which is owned by Hollinger).
(snip)

http://en.wikipedia.org/wiki/Richard_Perle

What are the chances any of this can cause problems for Richard Perle?