'?100m paid to Black without papers being reviewed'
Ex-Hollinger audit committee chairman testifies for second day
James R.
Thompson, the former chairman of
Hollinger’s audit committee, has
testified that he approved more than ?100m in fees to
Conrad Black’s private
management company without ever reviewing a single piece of paper to support the
payments.
Thompson made this admission during cross-examination by lawyers for Black
who attempted to cast doubt over his leadership of the audit committee.
One lawyer accused Thompson and other audit committee members of trying to
salvage their reputations by testifying Black duped Hollinger’s board into
approving payments to himself and top executives.
Black and his co-defendants deny all charges of fraud and racketeering.
Further reading:
Ex-Hollinger audit committee chairman only read draft
reports
‘Hollinger audit committee had no finance experts’
Hollinger auditor faces the heat