From the Guardian UK:
The prosecution is seeking forfeiture of up to £50m in assets from Black and wants to seize his £17.5m mansion in Palm Beach, Florida, and the £4m proceeds of the sale of his luxury Park Avenue apartment in New York, which are already frozen.
It emerged last night that Black's legal team had been making representations to the court, well before he was convicted, to transfer him to Canada to serve his sentence. But as he is no longer a Canadian, and British citizens convicted in America invariably serve their sentences in the US, he is unlikely to succeed.
'He will be in an orange jumpsuit,' triumphant prosecutor Eric Sussman said after the case was over, referring to the uniforms typically issued to US convicts.
As a foreign national and a fraudster likely to receive a hefty sentence, Black will not serve his term in the equivalent of an open prison, but a minimum- or medium-security federal institution.
He faces another battle not to be remanded into custody this Thursday. Sentencing is set for November. And he will not be eligible for parole until he has served 85 per cent of his sentence.
Patrick Fitzgerald, US attorney for the Chicago area, has 'very conservatively estimated' that Black will be sent to prison for between 15 and 20 years - this is vehemently disputed by Greenspan.
'The sentencing guidelines take very seriously a situation where millions of dollars are stolen by fraud,' Fitzgerald said at the courthouse after the verdicts had been given.
Behind him stood his stable of four young prosecutors, and a hand-picked team of FBI agents and tax investigators who 'followed the paper trail' and also asked the crucial questions about why more than $60 million was being siphoned off from newspaper sales straight into the personal pots of the defendants. Fitzgerald said grandly of the conviction: 'We are gratified. It indicates the serious public interest - that when insiders deal with money entrusted to them by the shareholders, that they must not break the law.'
1 comment:
When the money goes so does Lord Black. With no rich and powerful friends now Black can't ask Bush to do him a favor. If only Black had given the White House some of his stolen money he could have gotten the Libby get out of jail card. Now he's going to eat of the jail and live with other criminals like himself just poor ones. I knew he should have pulled a Ken Lay that surprise death to the islands until things cooled down. Look Black could have had his case dismissed like Lay so he could someday come back from the dead and say he doesn't' have a conviction against him. Oh yes and of course use that memory lost that all the White House criminals use.
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