Posted Apr 20, 2007 05:02 pm CDT
A lawyer from Cravath, Swain and Moore testified yesterday that he warned that payments to media executives at Hollinger International needed to be disclosed to the Securities and Exchange Commission.
Paul Saunders said he gave the warning to Peter Atkinson, then a vice president, in May 2001, according to Chicago Tribune coverage of the trial. Yet Atkinson did not disclose similar payments made in the past, Saunders testified.
Another lawyer has testified that Atkinson later disclosed the Canadian payments in an SEC filing.
The former VP is on trial with former company chairman Conrad Black and a third executive on charges of stealing $84 million from the company, most of it in noncompete payments. A fourth defendant is accused of aiding the scheme.