Hollinger Panel Says Black Looted Company (& Richard Perle)

[MissMarple]

http://finance.myway.com/ht/nw/bus/20040831/hlm_bus-n31285992.html

"The special committee also said that director Richard Perle, a former Pentagon adviser who was a member of the board's executive committee, "repeatedly" signed off on transactions that were beneath the radar of the audit committee."

[MissMarple]

1. And here's some more...

NEW YORK (Reuters) - Conrad Black, the former CEO of Hollinger International Inc., looted the newspaper publisher of hundreds of millions of dollars to indulge his appetite for private jets and club memberships, according to a report filed on Tuesday.

In a filing with the U.S. Securities and Exchange Commission, a special committee of Hollinger's board described a "corporate kleptocracy" at the top of the company that publishes the Chicago Sun-Times.

"Hollinger was a company where abusive practices were inextricably linked to every major development or action," the report said.

A key driver of the abuses were "... insatiable demands for cash from Black, whether to prop up his empire or to fuel his political and social ambitions in multiple countries," the report said.