Conrad Black, whose company Hollinger Inc., has spent more than $18-million on legal fees last year, is in more hot water. This time, Hollinger International Inc. is suing Conrad Black and others for $1.25-billion (U.S.) alleging that Black engaged in “a pattern of racketeering”, Reuters reports.
Earlier Hollinger Int'l had sued Black and others for $250-million. Hollinger Int'l has amended that lawsuit (which has yet to be filed apparently) and has some new accusations.
To which Ravelston Inc., which is the holding company that Black controls which indirectly controls Hollinger International and Hollinger Inc replied:
“Hollinger International's amending its lawsuit to include allegations of racketeering is tabloid journalism masquerading as law. Overreaching use of the Racketeer Influenced and Corrupt Organizations Act has been frowned upon in virtually every
circuit court in the United States. When this complaint is heard in a court of law, the poverty of this case will be plainly demonstrated.
Yes these CEOs are biggest crooks the world has never has seen.They should see jail time and and striped of all their assets.
These bastards have ripped off their share holders and dont need soft sentences that are laughable.