Black’s long-term friend jailed for Hollinger fraud

THE long-term friend of Conrad Black who accepted a plea deal and became a key prosecution witness in the multi-million euro fraud trial of the disgraced media mogul was sentenced to 29 months in jail yesterday.

David Radler, Black’s number two at the Hollinger International newspaper empire, was sentenced to 29 months for his role in stealing millions from Hollinger shareholders.

Judge Amy St Eve, who sentenced Black to six-and-a-half years in jail last week, told Radler he must begin serving his sentence by February.

Radler, 65, told the Dirksen Federal courthouse in Chicago: “I’m sorry for what I’ve done.”

Under the terms of the plea deal with prosecutors, Radler admitted fraud and testified against his one-time business partner and friend Lord Black of Crossharbour, in return for a lenient sentence. Radler, who has already paid millions in restitution, was also fined $250,000.

Last week the court heard Black, the 63-year-old former owner of The Daily Telegraph, “violated” his duty to shareholders when he swindled them out of more than $6m in a fraud conspiracy with three colleagues. In July, a jury found Black illegally received $3.5m as they convicted him of three counts of fraud and one of obstruction in the $60m fraud trial.

Yesterday, Judge St Eve told Radler he had also breached his duty to shareholders, saying he “took a lot of money from Hollinger International at great expense to the company and the shareholders”.

But she acknowledged his cooperation with US prosecutors and told him: “You certainly have tried to right your wrongs.”

Outside court, Anton Valukas, defending Radler, said the sentence was a relief for his client.

He said: “This is the first day of the rest of his life.”

Towards the end of the four-month trial in July, Eric Sussman prosecuting, said: “David Radler’s a criminal fraudster.

“He lied to the court, he lied to shareholders and he lied to us.”