A federal jury found former Hollinger International CEO Conrad Black guilty this morning of three counts of fraud and one count of obstructing justice:
The findings are expected to lead to prison time for the British Lord, who showed no visible reaction to the verdict Friday morning. Black faced a maximum of 35 years in prison for the offenses the jury convicted him of, plus a maximum penalty of $1 million.
A Chicago federal jury also found Black's three co-defendants guilty of three counts of mail fraud. They are former Hollinger International vice presidents John Boultbee, 64, of Vancouver and Peter Y. Atkinson, 60, of Toronto and attorney Mark Kipnis, 59, of Chicago.
The parties were expected to return to U.S. District Judge Amy St. Eve's courtroom at 11:15 a.m. Friday morning to begin post-trial motions and discuss bonds. All four defendants waived their right to a jury for upcoming forfeiture trials.
Black's conviction marks the stunning downfall of one of Canada's most prominent businessmen, who used the power of the press to become an international celebrity, known as much for his right-wing views as for his jet-setting lifestyle.
During a period in the 1990s, Hollinger owned The Carthage Press and the Neosho Daily News.