WORLD: Lord Black fails in bid for bail

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The former press baron had hoped he would be bailed ahead of the hearing which will take place later this year.

But prosecutors argued that a separate count of obstructing justice would not be affected by the court's decision over the fraud conviction appeal and as such he should remain behind bars.

Supreme Court Justice John Paul Stevens yesterday rejected Black's plea without comment.

Lord Black of Crossharbour, the 64-year-old former Daily Telegraph owner, was convicted in July 2007 over charges that he siphoned off millions of pounds belonging to Hollinger International while serving as the newspaper empire's chief executive.

A jury found him guilty of swindling shareholders out of more than six million dollars (£3.6 million) in a fraud conspiracy with three colleagues.

He was convicted of three counts of fraud and one of obstruction in the 60 million dollar (£36 million) fraud trial in Chicago, Illinois.

Black was handed a six-and-a-half year prison sentence for the crimes of which he has so far served 17 months in a Florida prison.