Black could face 30 years in jail

Prosecutors in the US trial of former media mogul Conrad Black believe he could face up to 30 years in prison after being convicted of fraud.

However, Black’s defence lawyers disputed the written submission presented for the first time to a Chicago court, estimating a sentence of less than half that.

The former owner of the Daily Telegraph may remain free on bond while awaiting sentencing for swindling the Hollinger International media empire he once ran out of millions of dollars, a judge ruled yesterday.

US District Judge Amy St Eve turned down a request by federal prosecutors to have the Canadian-born newspaper executive jailed immediately to prevent him returning to his native country and fighting extradition.

“I find clear and convincing evidence that Mr Black is not going to flee,” St Eve told lawyers.

But St Eve imposed tight restrictions on Black’s travel while free on bond.

He may not stray from the Chicago area or south Florida, where he and wife, Barbara Amiel Black, own an estate.

The Blacks left the courthouse hand in hand, accompanied by his daughter, Alana, after the hearing. Black declined to make any comment.

Black, 62, was convicted on July 13 of three counts of mail fraud and one count of obstruction of justice in what federal prosecutors describe as a multi-million dollar fleecing of Hollinger International.

The jury acquitted him of nine other charges ranging from racketeering to tax fraud. Three co-defendants were also convicted of mail fraud.

Black was specifically convicted of paying himself millions of dollars in corporate money and disguising the money as stemming from payments made in conjunction with the sale of Hollinger assets.

Black plans to appeal.

He was also convicted of moving boxes of documents out of his Toronto offices in defiance of a court order.

Federal prosecutors said they calculate the potential sentence Black faces as 24 to 30 years in prison.