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SEC & DOJ Prosecutions

Enforcement Action Charging Fraudulent Scheme to Plunder Subsidiary

SEC v. Conrad M. Black, F. David Radler and Hollinger, Inc.

  • 2013
  • $54.1 Million

Defendants in this case were charged with engaging in a fraudulent and deceptive scheme to divert cash and assets from Hollinger International, Inc., subsidiary of the entity defendant Hollinger, Inc. Defendants allegedly diverted approximately $85 million of proceeds from Hollinger International’s sale of newspaper publications through purported “non-competition” payments to related parties, and deceived investors about the transactions through misrepresentations to auditors and Directors, and in Hollinger International’s filings with the Commission.

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