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Ravelston Pleads Guilty In Lord Black Scandal

Law360 (March 5, 2007, 12:00 AM EST) -- Ravelston Corp. Ltd., the bankrupt holding company owned by former media mogul Lord Conrad Black, agreed on Monday to plead guilty to one count of fraud and pay a $7 million fine in U.S. federal court.

The deal was a boon to government prosecutors, who plan to use Ravelston's cooperation in the looming criminal trial against Lord Black and three of his former colleagues in Chicago District Court.

The Ravelston fraud involved the $14 million sale of certain media properties to North Dakota-based newspaper firm Forum...
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