Media tycoon Black to launch appeal

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Lord Black of Crossharbour and other Hollinger International executives swindled shareholders out of more than $6 million (£3 million) of their money, jurors found.

The jury found Black illegally received $3.5 million (£1.75 million) of this as they convicted him of three counts of fraud and one of obstruction by a jury in the $60 million (£30 million) fraud trial at the Dirksen Federal Courthouse in Chicago, Illinois.

After the verdicts were delivered to a packed courtroom, prosecutor Eric Sussman called for Black to be jailed immediately, declaring that "very conservatively" he was looking at a sentence of 15 to 20 years.

The jury was given details of Black's lavish lifestyle, which the court heard was partly funded through fraud.

The panel finally delivered verdicts on the 62-year-old former Daily Telegraph owner and once-powerful chief executive of the Hollinger newspaper empire on Friday - the 12th day of deliberations.

Black was convicted of three counts of fraud but cleared of a further six.

The former media baron was convicted of three counts of mail fraud, which took place on February 8 2001, March 21 2001, and April 9 2001.

The nine women and three men on the jury cleared him of charges of racketeering and tax evasion.

The billionaire, from Toronto, will be sentenced on November 30.