Conrad Black applies for bail - Macleans.ca
 

Conrad Black applies for bail

A new chance at freedom after the June Supreme Court ruling?


 

Conrad Black’s lawyers are arguing that the Montreal-born media mogul should be released immediately, following a U.S. Supreme Court ruling in late June that set aside his fraud convictions. Black applied for bail with the 7th Circuit Court of Appeals in Chicago late Tuesday. While his conviction for obstruction of justice remains in place, the appeal court must determine whether to have a hearing on his bail request while it decides whether to overturn his fraud convictions. The 7th Circuit Court is the same one that denied Black’s request for bail after he was convicted in 2007 of defrauding US$6.1 million from Hollinger International.

CBC


 
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Conrad Black applies for bail

  1. Isn't is disgusting to witness how CEO's and the corporate elite can get off the hook of white collar crime via legal loopholes that were created for them and by them (albeit by lawyers and lawmakers 'under their wing').

  2. Here's a quote from a study done on the dual class share structure that Hollinger International (and other companies including Magna, Onex and Power Corp) use to protect the interests of their founders at the expense of their other shareholders:

    "Hollinger International Inc. presents an extreme example of the detrimental effects of dual-class share structures. Former Chief Executive Officer Conrad Black controlled all of the company's Class B shares, which gave him 30% of the equity and 73% of the voting power. Holders of publicly traded shares of Hollinger had limited rights to make decisions in terms of executive compensation, board appointments, and mergers and acquisitions. According to a report made public by the Securities and Exchange Commission, Mr. Black appointed the majority of board members, who, in turn, were unlikely or unwilling to oppose his authority. The same report found that Mr. Black exacted excessive management fees, consulting payments, and personal dividends from the company. In all, the aggregate funds taken by Mr. Black and Hollinger's other chief executives were estimated at 95.2% of Hollinger's entire adjusted net income during 1997-2003, sums in excess of $400 million."

    I wonder how his former shareholders feel about bail being granted?

    The report is available at: http://www2.parl.gc.ca/Content/LOP/ResearchPublic
    http://viableopposition.blogspot.com/

  3. He took 95.2 percent ! Surprised he did not take 100 percent. I guess he though he should leave some crumbs for the commoners.

  4. Free Conrad! He was railroaded by partisan prosecutors.

  5. There s more than enough blame to go around here. Hubris was Conrad's downfall because he could have nipped the whole thing in it's bud but refused to do so! Just the same I have nothing but contempt for the prosecutors since they all do the same thing…………. anything and everything to get a conviction, and to hell with the facts or the law
    Just look at that case yesterday where a guy spent two years in jail for a crime Paul Bernardo commited, and when the prosecutors got evidence that they convicted the wrong person……. they hid the facts so that their conviction would'n be overturned. THEY are the one's that should be in jail!!
    http :www.allans-perspective.blogspot.com