SEC files fraud charges against Black
Monday, November 15th 2004, 11:00 am
By: News On 6
NEW YORK (AP) _ The Securities and Exchange Commission has filed a lawsuit against Conrad Black, the ousted CEO of Hollinger International, and his top deputy David Radler.
The SEC accuses the men of improperly diverting funds from the newspaper publisher over a period of four years.
The SEC said in a statement that Black and Radler engaged in a ``fraudulent and deceptive scheme'' to take cash and other assets from Hollinger International from 1999 to 2003.
In its lawsuit, the SEC is seeking civil penalties against Black, Radler and a Canadian-based company that Black controls and the repayment of what they received in the transactions. The SEC also wants the men barred from serving as officers or directors of public companies.
Hollinger International publishes the Chicago Sun-Times.