Feds Want to Seize Black’s Profit from Park Avenue Apartment Sale

Tom Acitelli — Tue, 14 Aug 2007 14:11:44 -0400

The federal government wants to seize the money Conrad Black made from the $8.5 million sale of his Park Avenue apartment.

According to this morning's Financial Times, the seizure would be part of a government effort to get $17 million from Mr. Black and two other executives of his Hollinger International following their fraud convictions in June.

According to documents filed yesterday, the US attorney's office for the northern district of Illinois is requesting that the executives be forced to pay back millions of dollars they received as part of a fraudulent scheme involving so-called non-competition payments.

Among other assets, the government is seeking to seize Lord Black's Palm Beach mansion and proceeds from the $8.5m sale of Lord Black's Park Avenue apartment.

Mr. Black sold the apartment at 635 Park in late 2005.

Observer » Feds Want to Seize Black’s Profit from Park Avenue Apartment Sale

Feds Want to Seize Black’s Profit from Park Avenue Apartment Sale