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Media tycoon Conrad Black faces fraud charges

Conrad Black, the former owner of the Daily Telegraph, and three other executives have been charged with fraud in America involving the £1.2 billion sale of several hundred Canadian newspapers and the abuse of company perks at newspaper publishing company Hollinger International.

Mr Black, 61, Hollinger International's ousted chairman, was accused in the 11-count indictment of cheating the company's US and Canadian shareholders as well as Canadian tax authorities.

Black and the others were accused of fraudulently diverting more than £18 million from the company through a complex series of transactions.

Former Chicago Sun-Times publisher David Radler pleaded guilty to similar charges in September.