A federal prosecutor ripped into media mogul Conrad Black and other Hollinger International executives Monday, saying "they systematically stole $60 million" from shareholders and created a phony paper trail to cover their tracks, The Associated Press reported.
"We're not here because somebody made a mistake, we're not here because somebody forgot to dot the i's or cross the t's," Assistant U.S. Attorney Julie Ruder told jurors as closing arguments got under way at Black's three-month racketeering and fraud trial, according to the AO. She said the four defendants "decided on their own to take a slice of the company's profits."
Black and three other former executives of the Hollinger International Inc. newspaper empire are accused of pocketing $60 million that should have gone to the shareholders, largely through the sale of hundreds of Hollinger-owned U.S. and Canadian community newspapers, the AP reported.
U.S. District Judge Amy J. St. Eve has set aside the entire week for closing arguments; jury deliberations are expected to start next week, the AP reported.
- New York State Society of Certified Public Accountants
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