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Author Topic: Radler of Hollinger indicted in the USA - RCMP sees no need to investigate
VanLuke
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posted 19 August 2005 11:54 AM      Profile for VanLuke     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
...U.S. federal prosecutors have filed fraud charges against David Radler former publisher of the Chicago Sun-Times newspaper and chief operating officer of Hollinger International.

After a U.S. federal grand jury in Chicago indicted former Hollinger International Inc. President David Radler, the RCMP said it has already determined there's no need for a Canadian investigation.

Late Thursday, an RCMP spokesperson said that the force looked into allegations of security crime at Hollinger International back in February 2004.

"After conducting a thorough review, it was determined that no Canadian investigation was required,'' RCMP Cpl. Michele Paradis told The Toronto Star....


http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20050819_conrad_black050818 /?hub=TopStories

Why? Because he's got friends in high places?


quote:
...The [US] federal indictment alleges Radler, Kipnis and Ravelston engineered secret deals that saw $32 million diverted from shareholders in the guise of tax-exempt non-compete fees.

Black was not named in the indictment, although prosecutors said the U.S. government is not only continuing its investigation, but is doing so with Radler's cooperation.

The former publisher of the Chicago Sun-Times, prosecutors said, will plead guilty at a later date.


They used the same mechanism in Canada including in the sale to Canwest.
Are these fees illegal in the USA but not in Canada?

quote:
Watching developments in New York, author Richard Siklos believes that doesn't bode well for the former media tycoon he profiles in his book, Shades of Black.

"They're pretty close to the mesh in the slam dunk world," Siklos said, drawing a basketball analogy on CTV's Canada AM early Friday.

"Black is incredibly bright and he has adamantly said he is innocent, but to have his partner go against him is going to make it very difficult if it comes to some kind of court showdown."


So his 'flameout' might not be quite so 'profitable' as he arrogantly claimed on TV some time ago.

Ah, but the RCMP doesn't see a need to investigate.
Hmmm

Meanwhile in the USA Black is also under criminal investigation and if Radler "rolls" (c.f. Ebbers 'loyal' underling) Black may yet get what he deserves.

http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/1111581073031_30?s_name=&no_ads=

[ 19 August 2005: Message edited by: VanLuke ]


From: Vancouver BC | Registered: Oct 2004  |  IP: Logged
skdadl
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posted 19 August 2005 12:27 PM      Profile for skdadl     Send New Private Message      Edit/Delete Post  Reply With Quote 
Yes, it sounds as though the Americans are focusing in on Black.

And yes, not only were the CanWest fees similar and therefore worth investigating; the G&M report this morning says that they were by far the highest such fees involved.


From: gone | Registered: May 2001  |  IP: Logged
jeff house
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posted 19 August 2005 03:28 PM      Profile for jeff house     Send New Private Message      Edit/Delete Post  Reply With Quote 
I am told that a lawyer for the Ontario Security and Exchange Commission wrote a report damning Black a few years ago, and recommending prosecution.

However, his recommendation was not accepted.

The lawyer's name was Harry Black (no relation!).

I do not believe any journalist has ever tried to get a copy of this report, to see whether or not its recommendation of prosecution is compelling or not.


From: toronto | Registered: May 2001  |  IP: Logged
skdadl
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posted 19 August 2005 03:30 PM      Profile for skdadl     Send New Private Message      Edit/Delete Post  Reply With Quote 
Is Black still a Canadian Privy Councillor?
From: gone | Registered: May 2001  |  IP: Logged
WingNut
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posted 19 August 2005 03:35 PM      Profile for WingNut   Author's Homepage     Send New Private Message      Edit/Delete Post  Reply With Quote 
Is Black still a Canadian? Didn't he burn his birth certificate in order to become the Black Lord?
From: Out There | Registered: Aug 2001  |  IP: Logged
skdadl
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posted 19 August 2005 03:39 PM      Profile for skdadl     Send New Private Message      Edit/Delete Post  Reply With Quote 
From what I can see on Wikipedia (see under Other Prominent Canadians) those appointments are for life.

Black was part of an extraordinary (used in literal sense of word) list of eighteen prominent Canadians appointed in 1992 by Brian Mulroney, something that has not been done since.


From: gone | Registered: May 2001  |  IP: Logged
Rufus Polson
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posted 19 August 2005 03:40 PM      Profile for Rufus Polson     Send New Private Message      Edit/Delete Post  Reply With Quote 
There used to be a guy doing a Vancouver Sun column in the business section called David Baines, I believe--he would have gone after this. He was always doing exposes on the bad actors. No analysis of the system, obviously, but he raked up the scams pretty good. Whatever happened to him?
(Presumably Canwest Global happened to him, but it'd be interesting to know for sure)

From: Caithnard College | Registered: Nov 2002  |  IP: Logged
maestro
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posted 19 August 2005 04:36 PM      Profile for maestro     Send New Private Message      Edit/Delete Post  Reply With Quote 
That 25 year sentence handed to Ebbers was probably what broke the logjam.
From: Vancouver | Registered: Jan 2005  |  IP: Logged
Tommy_Paine
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posted 19 August 2005 06:56 PM      Profile for Tommy_Paine     Send New Private Message      Edit/Delete Post  Reply With Quote 
Yeah, I was at the laundromat this morning, looking at Ratler's picture in the Globe and Mail, thinking about how slowly the RCMP move on guys like Black.

Let's not forget that if it wasn't for American prosecutors, the RCMP would have been content to allow Alan Eagleson off the hook for life.

Broken record time again, but it just goes to show you what a crock our justice system is.

Anywho, woulda paid fifty bucks to see the look on that fat theifs face when it became apparent his best buddy had turned states evidence.


From: The Alley, Behind Montgomery's Tavern | Registered: Apr 2001  |  IP: Logged
VanLuke
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posted 19 August 2005 07:36 PM      Profile for VanLuke     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
That fat thief

Made me laugh out loud but be careful the PC police might get you.

I was once censored for calling Sharon the fat butcher of Tel Aviv and have never referred to his ample size since.

But then again, who doesn't love to hate Conrad Black here? The way he looks only his mom could possibly like him.


From: Vancouver BC | Registered: Oct 2004  |  IP: Logged
VanLuke
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posted 19 August 2005 11:03 PM      Profile for VanLuke     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
...After graduating from McGill and Queen's University, Radler signed on with Black and White to run the Sherbrooke Record when the trio bought the newspaper in 1969 for just $20,000.

And while the rationing of pencils and rolls of toilet paper at the Sherbrooke newspaper are the stuff of Canadian journalism legend, Radler was more than a bean counter helping lead a turnaround that cut the paper's payroll in half and found a cheap press to print the paper in Vermont. ...


http://www.cbc.ca/cp/business/050819/b0819110.html


From: Vancouver BC | Registered: Oct 2004  |  IP: Logged
radiorahim
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posted 19 August 2005 11:11 PM      Profile for radiorahim     Send New Private Message      Edit/Delete Post  Reply With Quote 
To give credit where credit is due it would seem that the USian judicial system pursues corporate crime much more vigorously than the Canadian judicial system.

Enron stuck it to Alberta power customers big time but no action was taken against them. Of course "the Eagle"...and then there's Micro$oft...which was pursued in USian and EU courts over monopolistic practices but never in Canada.


From: a Micro$oft-free computer | Registered: Jun 2002  |  IP: Logged
VanLuke
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posted 19 August 2005 11:14 PM      Profile for VanLuke     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
... Mr. Radler could be sentenced to 35 years in prison; each of the counts against the men carries a maximum term of five years in prison, as well as a fine of $500,000 per count beyond the return of any ill-gotten gains.

The $32 million at issue is smaller than some of the other sums sought in other cases involving Hollinger. Lord Black, Mr. Radler and Ravelston are already named in a civil lawsuit, filed by the Securities and Exchange Commission last November, claiming that from 1999 to 2003 they had taken $85 million from the company through "self-dealing" transactions.

And Hollinger International's directors - most of whom were put in place by Lord Black - has sued the defendants and several others, including Lord Black's wife, Barbara Amiel, a former director and executive of Hollinger International, accusing them of taking more than $300 million over several years...


http://www.nytimes.com/2005/08/19/business/media/19black.html?pagewanted=print

I sincerely hope Conrad does time.


From: Vancouver BC | Registered: Oct 2004  |  IP: Logged
VanLuke
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posted 19 August 2005 11:17 PM      Profile for VanLuke     Send New Private Message      Edit/Delete Post  Reply With Quote 
quote:
Originally posted by radiorahim:
[QB]To give credit where credit is due it would seem that the USian judicial system pursues corporate crime much more vigorously than the Canadian judicial system.

Don't you think this is a very recent phenomenon?

Also the NYT article linked speaks of a tax angle. So I also have the question of why Revenue Canada is not investigating.

Or are they? (I doubt it.)


From: Vancouver BC | Registered: Oct 2004  |  IP: Logged
H L
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posted 23 August 2005 07:13 PM      Profile for H L     Send New Private Message      Edit/Delete Post  Reply With Quote 
Without commenting on what Mr Radler or Lord Black may or may not have done, I have to say that I have not been impressed by the American justice system, which seems to be highly politicised. American indictments do not seem to be worth much, and are said to be at the beck and call of any particular prosecutor, in my understanding.
From: Victoria | Registered: Jul 2005  |  IP: Logged
jeff house
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posted 23 August 2005 07:23 PM      Profile for jeff house     Send New Private Message      Edit/Delete Post  Reply With Quote 
I have been very unimpressed with the Canadian enforcement effort dealing with business crime.

The various securities commissions rarely get off their butts. And it is utterly rare to see an actual businessman in criminal court. Yet fraudulent misrepresentation is a daily occurrence.

Sufficient money is not invested in fraud investigation. Rather, the police prefer to limit themselves to the investigation of traditional, violent offences and small-scale thefts.

I don't think the US is great, either, with the exception of New York and Illinois, which have very tough prosecutorial teams, and which actually interest themselves in making sure that the stock exchange is something more than "scam city".

It is true that indictments can be gotten relatively easily, but if I were a betting man, I would be willing to bet that Lord Black will spent time in a cell before this is over. Maybe Lady Black will too.


From: toronto | Registered: May 2001  |  IP: Logged

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