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BREAKING NEWS ~ Black, Hollinger execs charged with criminal fraud

[JURIST] US Attorney Patrick Fitzgerald [official profile] on Thursday announced criminal fraud charges against Conrad Black [CBC profile] and three other executives at Hollinger International [corporate website] related to the $2.1 billion sale of several hundred Canadian newspapers and alleged abuse of corporate perquisites at Hollinger. The 11-count indictment charged Black with evading taxes in Canada and cheating shareholders in both Canada and the US. Earlier this year, Black was accused of diverting company funds for personal use [JURIST report] in excess of $400 million. He has countersued Hollinger International for defamation and libel [JURIST report] and has continually maintained his innocence. Recently Black sued the US government [JURIST report], alleging the Federal Bureau of Investigation [official website] improperly seized nearly $9 million of his money. AP has more.

3:17 PM ET - Fitzgerald's office now made the indictment [PDF text] and an accompanying press release [PDF] available.

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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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