New inquiry examines Hollinger bonus plan (R. Perle $3M Investment Scheme) [View All]

[joeunderdog]

RICHARD PERLE, the former US Assistant Defence Secretary and Hollinger International board member, is under investigation for allegedly failing to disclose bonuses worth about $3 million (£1.6 million) which he received for running an investment scheme, The Times has learnt.

Mr Perle, a vocal supporter of President Bush, was awarded the money as a reward for investing Hollinger shareholder funds in a series of separate businesses. Mr Perle also held a stake in some of those businesses. While the scheme put Hollinger International shareholders’ money at risk, it was never disclosed to them.

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Failure to disclose such awards represents an apparent contravention of the US Securities and Exchange Commission’s rules. Mr Perle, in common with any director of a public company, is required each year to disclose earnings above $60,000.

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Shareholder money was funnelled through a company called Hollinger Digital Inc, where Mr Perle was co-chairman. The group was a unit of Hollinger International and was set up in 1996.

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http://www.timesonline.co.uk/article/0,,5-1006783,00.html

This is the dirtiest administration in history. There are volumes and volumes of filth and it just keeps coming.