United States International

‘No one is above the law’ - Conrad Black gets six years

'No one is above the law' - Conrad Black gets six years
by: Andrew Clark

Former Telegraph owner jailed for plot to embezzle $6.1m from shareholders

Conrad Black was sentenced yesterday to six and a half years in an American prison for abusing shareholders' trust through a sophisticated plot to embezzle $6.1m from his Hollinger media empire.

At Chicago's federal court, Judge Amy St Eve told the former owner of the Daily Telegraph: "No one is immune from the proper application of law in the United States and that, Mr Black, includes you."

As a pale-faced Black stood ramrod straight in front of the bench, the judge said it was essential to the functioning financial markets that directors put their companies first.

In addition to the prison stretch, she fined him $125,000 (£62,000).

Read the entire article at: http://www.guardian.co.uk/business/2007/dec/11/conradblack.mediabusiness1

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