Black's friend jailed for Hollinger fraud
The long-term friend of Conrad Black who accepted a plea deal and became a key prosecution witness in the multi-million pound fraud trial of the disgraced media mogul was sentenced to 29 months in jail today.
David Radler, Black’s number two at the Hollinger International newspaper empire, was sentenced to 29 months for his role in stealing millions of pounds from Hollinger shareholders.
Judge Amy St Eve, who sentenced Black to six-and-a-half years in jail last week, told Radler he must begin serving his sentence by February.
Radler (aged 65) told the Dirksen Federal courthouse in Chicago: “I’m sorry for what I’ve done.”
Under the terms of the plea deal with prosecutors, Radler admitted fraud and testified against his one-time business partner and friend Lord Black of Crossharbour in return for a lenient sentence.
Radler, who has already paid millions in restitution, was also fined $250,000 (€173,639).
Last week the court heard Black, the 63-year-old former owner of The Daily Telegraph, "violated'' his duty to shareholders when he swindled them out of more than $6m (€4.16m) in a fraud conspiracy with three colleagues.
In July, a jury found Black illegally received $3.5m (€2.43m) as they convicted him of three counts of fraud and one of obstruction in the $60m (€41.67m) fraud trial.
Today, the trial judge told Radler he had also breached his duty to shareholders, saying he “took a lot of money from Hollinger International at great expense to the company and the shareholders”.
But she acknowledged his cooperation with US prosecutors and told him: “You certainly have tried to right your wrongs.”
Outside court, Anton Valukas, defending Radler, said the sentence was a relief for his client.
He said: “This is the first day of the rest of his life.”
Towards the end of the four-month trial in July, Eric Sussman prosecuting, said Black and Radler had "nestled together'' for years.
He told the jury: “You do not have to believe a single word that David Radler said to you to convict every single one of these defendants.
“David Radler’s a criminal fraudster. He lied to the court, he lied to shareholders and he lied to us.”
The prosecutor said the US government did not choose Radler as one of its star witnesses.
Turning to the defence table and pointing directly at Black, Mr Sussman said: “Conrad Black picked him when he started doing business with him 30 years ago.”
Mr Sussman said Black did not want “boy scouts” and “straight-laced” business partners.
“Conrad Black and David Radler nested together for over 30 years,” he said.
