Conrad Black to walk free

Filed in archive corporate crime on July 20, 2010

And so Conrad Black, convicted and sentenced in 2007 to six and half years for criminal fraud and obstructing justice is going to walk free. What's the future for Lord Tubby?

The BBC reports that Black has been granted bail pending an appeal against his fraud conviction after serving more than two years of his 78-month sentence.

The decision comes after a legal victory for Black in June, when the US Supreme Court ruled to set aside Black's three mail fraud convictions. The Supreme Court ruled that a law used to help convict Black on three counts of mail fraud was too broad. The justices in the case unanimously agreed to narrow the definition of "honest services" fraud. Previously, the definition of "honest services fraud" applied to a person within a company or official office who misused their position to benefit from a bribe, kickback or undisclosed conflict of interest. The narrowed or clarified definition includes only bribes and kickbacks, neither of which Black was charged with.

Once he walks, Black is unlikely to return to prison. Criminal lawyers have told Black's former newspaper, the National Post, that he probably won't go back to jail because the government's case has fallen apart.

Does that mean Black will be back in business? He'll have to sort out a few things first. US tax authorities are now chasing Black for $71 million in unpaid taxes. True to form, Black claims he is not subject to US taxes. Jail has not humbled him.

Of course, the US Supreme Court ruling does not exonerate or acquit Black. No doubt, he will be pursuing that course of action. If he gets that up, we can him to start filing lawsuits against the US Department of Justice.