More "corporate kleptocracy"

[Viking12]

This one involving Hollinger board members Richard Perle and Henry Kissinger (surprise, not).

Hollinger may widen legal action against directors
By Katherine Griffiths in New York
02 September 2004


Hollinger International may widen its legal action to include several former directors after a comprehensive report into the management of the publishing group criticised certain board members for failing to prevent looting of its assets by its former chief executive, Lord Black of Crossharbour.

Those in the firing line include some of the most high profile figures in business and politics in the US, where Hollinger, which was forced in July to sell its prized asset - The Daily Telegraph - is based.

The report, compiled by Richard Breeden, the former chairman of America's Securities and Exchange Commission, is highly critical of Hollinger's entire audit committee. It says it was "inert and ineffective" in the face of what it alleges to be a culture of "corporate kleptocracy" which saw Lord Black and David Radler, Hollinger's chief operating officer, illegally take $400m (£220m) from the business.

A number of individual Hollinger directors are also criticised, including Richard Perle, the former US deputy defence secretary, who used to sit on Hollinger's executive committee.

http://news.independent.co.uk/business/news/story.jsp?story=557384