Following the various civil disputes resulting from his activities whilst at the head of the Hollinger media empire, it emerged last week that Conrad Black is now facing criminal charges in the United States.
Announcing the charges of mail and wire fraud against Lord Black, US Attorney Patrick Fitzgerald observed that:
"All in all what has happened here has been the grossest abuse by officers or directors or insiders."
Lord Black has strongly denied the allegations and says he will fight the charges.
Black and several of his close associates stand accused of looting millions of dollars from Hollinger, in addition to misusing company funds for unjustified perks.
According to reports, prosecutors are expecting to collect at least $80 million from Black and three former Hollinger executives. Each count in last Thursday's indictment also carries a maximum penalty of five years in prison.
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