Article
Ex-Hollinger Exec Tells of Plan to Divert Cash
Posted May 9, 2007, 09:33 am CST
By Debra Cassens Weiss
A senior executive at Hollinger International testified in Chicago yesterday that he and media magnate Conrad Black plotted to divert noncompete payments to top company executives, including themselves.
Star witness F. David Radler, the ex-president and COO of Hollinger, said the plan to funnel money through a Canadian company was worked out in a series of phone calls, the New York Times reports.
Radler portrayed himself as a passive participant in the plan, even though he pocketed millions of dollars, according to the Chicago Tribune.
Black is on trial in Chicago for allegedly defrauding shareholders.
Radler has already pleaded guilty to a single fraud count and has paid $8.5 million in restitution, according to the Wall Street Journal.