The former media tycoon, Conrad Black, has pleaded not guilty in a US court to charges that he and other executives stole $84 million from the company he used to control, Hollinger International.
The 61-year-old, who renounced his Canadian citizenship to become a member of Britain's House of Lords, was released on $20m bail at his first appearance before a judge in Chicago.
Mr Black, who resigned under pressure as Hollinger's chief executive in 2003, could face up to 40 years in prison and owe millions of dollars in fines and restitution.
He also faces several civil suits demanding hundreds of millions of dollars.
