Friday, August 11, 2006

Another $1 Million in Cash Will Keep Lord Black Free on Bail

Federal prosecutors in Chicago and Lord Conrad Black have been involved in a nasty dispute over whether his financial disclosure in connection with the bail application was complete and truthful.   The U.S. Attorney's Office requested that U.S. District Judge Amy St. Eve revoke Black's $20 million bond and send him to jail pending a trial scheduled for 2007, a long time to stay in the pokey.  Judge St. Eve determined that Black had misrepresented his assets, but denied the request to revoke the bond and instead ordered him to put up an additional $1 million in cash.  The bond is already secured by property with an estimated value of $30 million, but  the additional liquid assets should give the court some comfort that Black will continue to show up for court appearances.  A Reuters story (here) notes that Black's attorney said his client would put up the additional funds -- I hope the check clears. (ph)

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