Conrad Black Rips SEC's 'Staggering' $10M Penalty Request

Law360, New York (August 24, 2012, 3:32 PM EDT) -- Fallen newspaper magnate Conrad Black on Thursday lashed out at the U.S. Securities and Exchange Commission for requesting that an Illinois federal judge boost civil penalties against him to more than $10 million, saying he had already been punished “more than enough” for his fraud conviction.

Accusing Black of a “lack of repentance,” the SEC last month filed a motion in Illinois federal court that seeks $4.1 million in triple-tier civil penalties, in addition to the $3.8 million in disgorgement that Black has already been ordered...
To view the full article, register now.