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rfmcdonaldI feel sympathetic for Cohen. I don't feel sympathetic for Conrad Black, famed press magnate and right-winger, famous for his ruthless consolidation of the Canadian press, his international aspirations, and his grand ego until it all came crashing down amidst allegations of massive fraud. Now, it looks like he may face criminal charges in the United States.
I highly recommend McNish and Stewart's Wrong Way to get an overview of Black's spectacular egos and frauds. It's worth noting that if only he hadn't gone out of his way to provoke curious minority shareholders, his empire might still be intact.
While Hollinger International, publisher of the Chicago Sun-Times, began a fraud probe of Black and others nearly two years ago, U.S. authorities did not bring criminal charges related to the case until Thursday when the two deputies were indicted.
David Radler, who was president and chief operating officer of Hollinger, in-house lawyer Mark Kipnis, and Ravelston Corp. Ltd., Black's insolvent Toronto-based holding company, were charged in a seven-count indictment charging they cheated investors out of $32 million.
Chicago U.S. Attorney Patrick Fitzgerald said Radler is cooperating with prosecutors and is expected to plead guilty, but sidestepped the issue of Black, who was not mentioned by name in the indictment.
"From what the U.S. Attorney is saying, the fact that they've indicted his closest colleague and the fact that they have a continuing investigation, all that spells trouble," said Bradford Lewis, an attorney with Fenwick & West and a former federal prosecutor.
I highly recommend McNish and Stewart's Wrong Way to get an overview of Black's spectacular egos and frauds. It's worth noting that if only he hadn't gone out of his way to provoke curious minority shareholders, his empire might still be intact.
