Nov 18, 2005 • 1 min read

Former Telegraph owner Conrad Black faces criminal charges

Former Daily Telegraph owner Conrad Black faces criminal fraud charges in the US over allegations he and three Hollinger executives diverted more than $80 million from the company, which Black denies.

Can't ignore the big media story of the day really, though we've previously only given this very long and slightly tedious saga the odd passing mention thus far. The former owner of the Daily Telegraph, Conrad Black, is facing criminal charges in the US over allegations he committed fraud while running Telegraph parent company Hollinger. It is alleged Black and three other Hollinger execs diverted more than $80 million (£47 million) from the company into their own pockets which, you have to admit, is quite an achievement, even if it's an illegal achievement.

As previously reported, Black was forced out of the media company as various financial irregularities came to light. The whole affair will now go to court, and Black could face 40 years in jail if found guilty, while he and his co-defendants might have to pay back the $80 million they are accused of stealing - assuming they could.

Perhaps unsurprisingly, Black's legal people told reporters yesterday: "Conrad Black asserts his innocence without qualification with respect to each and every one of the charges set forth in the indictment. It will be shown that he has, at all times, acted within the law."

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