Conrad Black, who once presided over one of the world's largest media empires, goes to court today to determine if he and his associates stole millions of dollars as his conglomerate crumbled.
In what is expected to be a four-month trial in federal court in Chicago, the Canadian-born Black faces charges of fraud, racketeering, tax violations, obstruction of justice, and money laundering.
Three former associates of Black's at Chicago-based Hollinger International Inc and its Canadian holding companies face fewer counts. Black, 62, could receive a 101-year prison sentence and more than $50m in fines if convicted.
Black, who once controlled a holding company with $2 billion in annual revenue, has branded the charges 'a massive smear job'.
The defendants are collectively accused of siphoning off $84m from the sales of newspapers and magazines that prosecutors say belonged to shareholders of Hollinger International, the media giant once controlled by Black.
The company, since renamed Sun-Times Media Group, has sold off hundreds of Canadian and US newspapers as well as London's Daily Telegraph and the Jerusalem Post.
Black, a member of Britain's House of Lords since 2001, is also accused of misusing the company's money to finance a lavish lifestyle that included extravagant parties attended by celebrities at his homes in London, New York and Florida.
He is also charged with using a company plane to go to the South Seas for a holiday and company funds to throw a birthday party for his wife, conservative columnist Barbara Amiel Black.
