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Thursday, November 17, 2005

Conrad Black is indicted in the addition to being a major neocon supporter, his UK Telegraph newspaper is known as the mouthpiece of the London vogueys (the Conde Nast empire is run from London, the NYC lackeys just follow orders) while his "outspoken" fashionable wife, Barbara Amiel, is a close friend of A Wintour...

"...U.S. prosecutors announced criminal fraud charges on Thursday against Conrad Black, accusing the ex-publisher of looting his now-shrunken media empire, once one of the world's largest.
The Canadian-born Black, a flamboyant conservative who is a member of the British House of Lords, was accused of siphoning off money from his former newspaper empire through a scheme that impacted both his publishing company, U.S.-based Hollinger International Inc. , and Toronto-based holding company, Hollinger Inc.
...Black's insolvent holding company, Ravelston Corp. Ltd., was also charged earlier in relation to the $32 million that Black, Radler and other executives were said to have siphoned off from the sales of hundreds of small U.S. newspapers and publications between 1999 and 2001. The executives are accused of disguising the bonuses as non-compete payments to evade Canadian taxes.
Black's newspaper empire, which sometimes served as editorial platforms for his conservative views, began to crumble in November 2003, when he and Radler resigned from Hollinger International after an internal investigation uncovered unauthorized payments. Hollinger International's new management, which sold off flagship titles like Britain's Daily Telegraph and the Jerusalem Post, accused Black and Radler, a Canadian who lives in Vancouver, of operating a "corporate kleptocracy" that drained hundreds of millions of dollars from the company.

How kleptocracies benefit "high fashion" - Barbara Amiel, Black's wife, and where some of the stolen money went...

Hollinger International has sued Black and others for $542 million, and Hollinger Inc., which publishes the Chicago Sun-Times, has sued Black, his companies and allies for at least $534 million.
In a separate civil case, the U.S. Securities and Exchange Commission accused Black, Radler and Hollinger Inc. of having "cheated and defrauded" Hollinger International shareholders. In October, FBI agents seized nearly $9 million from the sale of Black's Park Avenue apartment in New York, on the grounds that they were accumulated as part of a fraud scheme..."

Conde Nast is privately owned, so they have no shareholders to swindle - they do their small-scale (compared to Hollinger) swindling by taking advantage of their monopolistic position in the NYC media sector to the benefit of their "contractors" and "major advertisers"...


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