Former Officials of Hollinger to face SEC Charges

[banana republican]

By DEBORAH SOLOMON and MARK HEINZL
Staff Reporters of THE WALL STREET JOURNAL
November 15, 2004

In the first government allegations stemming from transactions at Hollinger International Inc., U.S. securities regulators are expected to file civil-fraud charges as early as today against newspaper baron Conrad Black and his deputy, David Radler, according to people familiar with the matter.

The lawsuit by the Securities and Exchange Commission is expected to accuse Lord Black, Hollinger's former chairman and chief executive, and Mr. Radler, the company's former president and chief operating officer, of engaging in transactions with Hollinger that benefited them but that hurt the company and weren't disclosed to investors, these people said.

The agency is likely to seek "disgorgement" of substantial amounts of money paid to the two men during the past several years, as well as a fine. Lord Black holds voting control over Hollinger International, which publishes the Chicago Sun-Times, community newspapers in the U.S. and the Jerusalem Post.

Spokesmen for Lord Black and Mr. Radler had no comment on the SEC's action. An SEC spokesman declined to comment.

[bemildred]

1. Good. nt

[Spazito]

2. Couldn't happen to better people!

Conrad Black is the scum of the earth and I hope he is 'taken to the cleaners' with fines, etc. My only regret is there are no criminal charges instead.

[hyphenate]

3. Too bad they didn't round-up

Perle and Kissinger in that lawsuit as well. Might as well fight the neocons when and where they roost.