Accountant says Black hid payments from SEC

Fred Creasey, the former controller of
Hollinger, has testified that millions
of dollars of payments to former press baron
Conrad Black and other
executives were not disclosed in two documents filed with the SEC.

Testifying during the trial of Black and three other former executives,
Creasey said that while SEC filings in
December 2000 and April 2001 referred to non-competition payments, they did not
spell out that four individuals received $27.8m (?14m).

‘Where does it say John Boultbee will receive non-compete money?” asked
assistant US attorney Julie Ruder, referring to the former Hollinger
International CFO.

‘It doesn’t,’ said Creasey.

Black, who once led Hollinger International, Boultbee and two other former
executives are charged with using unjustified non-competition payments to skim
money from the company.

Further reading:

Former Hollinger accountant grilled in Black trial

Black wanted newspaper’s cash in personal bank account

Lord Black on fresh tax charges

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