By: E&P Staff Sun-Times Media Group Inc. (STMG) has paid out $107.7 million defending its disgraced former chairman, Conrad Black, and other top executives convicted of fraudulently pocketing funds of the Chicago Sun-Times parent.
The figure emerged in a presentencing report on F. David Radler, the former Black lieutenant and Sun-Times publisher who turned informant and star witness in the federal trial of Black and three other former colleagues, Peter Atkinson, John "Jack" Boultbee, and Mark Kipnis.
Lawyers for Radler said in the filing, first reported by Paul Waldie in The Globe and Mail, that Radler had paid STMG more than $53 million in restitution since pleading guilty to a single count of fraud in an agreement calling for him to be sentenced to 29 months in jail in exchange for testifying against Black and the others. The repayment was for allegedly improper non-competition fees, management fees, and other payments.
"The magnitude of Mr. Radler's $53-million repayments to (STMG) is striking when compared to the ($107-million) in fees and costs that (STMG) has advanced to indemnified parties in connection with numerous civil and criminal proceedings, including the substantial fees advanced to Mr. Radler's co-defendants in this criminal case," Radler's filing said.
Radler is to be sentenced in federal court in Chicago on Dec. 17. The sentencing of Black and his co-defendants, all of whom vow to appeal their convictions, is scheduled for Dec. 10.
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