Posted Dec 10, 2007 07:07 pm CST
Updated: A Chicago federal judge has sentenced media mogul Conrad Black to 6.5 years in prison for embezzling money from Hollinger International, according to the National Post live blog of the sentencing hearing.
U.S. District Judge Amy St. Eve also fined Black $125,000. He had faced a sentence of up to 35 years in prison.
Black was convicted in July of diverting millions of dollars from Hollinger International but acquitted of charges he engaged in a racketeering conspiracy and misused company perks.
At the hearing this morning St. Eve said the loss should be valued at $6.1 million.
Asked if he wanted to speak before sentencing, Black did not apologize for his actions but expressed “profound regret and sadness at the severe hardship inflicted on all the shareholders,” the Associated Press reports.
St. Eve sided with the defense on two sentencing issues, ruling that sentencing guidelines from 2000 should apply and there should be no enhancement for playing a leading role in the offense, the Financial Post reports.
Updated at 11:25 a.m. central time to add information from Financial Post article, at 12:30 p.m. to provide live blog link, at 1:07 PM to add final sentence, and at 1:54 PM to add comments by Black. Originally posted at 11:18 AM on 12/10/2007.