Ravelston Corp., the Canadian holding company indicted on fraud charges in Chicago along with former publishing magnate Conrad Black, won permission from a Canadian court Wednesday to plead guilty in the case.
Ravelston, based in Toronto, is run by RSM Richter, a court-appointed receiver that sought the Ontario court’s permission to enter the deal with U.S. Atty. Patrick Fitzgerald in Chicago. Ravelston will pay a $7 million fine as part of the accord.
Black and others are accused of altering the records of Chicago-based Hollinger International Inc. to conceal self-dealing from directors and shareholders, including receipt of millions of dollars in non-compete payments.
Ravelston has a controlling interest in Hollinger Inc., which Black once used to control Hollinger International, the publisher of the Chicago Sun-Times. Hollinger International has since changed its name to Sun-Times Media Group Inc.
Black’s lawyer, Edward Greenspan, wasn’t available for comment.
