Risk Management

Accounting Firm Asks to Help Prosecutors

U.S. prosecutors are seeking information about salaries, bonuses, and dividends paid to media mogul Conrad Black by his former holding company, Tor...
Stephen TaubJanuary 11, 2007

Canadian accounting firm RSM Richter is seeking to cooperate with a U.S. investigation into Conrad Black’s former holding company, Ravelston.

In November 2005, Black and three other executives were indicted by the U.S. Attorney for the Northern District of Illinois of stealing $51.8 million from Hollinger International, where he was chairman and chief executive officer. All four have pleaded not guilty.

Now U.S. prosecutors are seeking information about salaries, bonuses, and dividends paid to Black by Toronto-based Ravelston, which is now run by RSM Richter. The Canadian firm has asked an Ontario court for permission.

“The provision of this type of information to stakeholders is consistent” with the firm’s role as receiver, RSM Richter reportedly asserted, in a statement. “It is the norm in insolvency proceedings that stakeholders have the opportunity to understand the historical transactions of the insolvent business.”

Hollinger International — whose assets once included London’s Daily Telegraph,, the Chicago Sun-Times, and the Jerusalem Post — is now known as the Sun-Times Media Group, according to Bloomberg.

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