Magazine article Editor & Publisher

Ex-'Sun-Times' Publisher Radler Settles with SEC for $28.7 Million

Magazine article Editor & Publisher

Ex-'Sun-Times' Publisher Radler Settles with SEC for $28.7 Million

Article excerpt

Just days before he is expected to be the star prosecution witness in the criminal fraud trial of Conrad Black, the ousted media baron's former right-hand man F. David Radler has settled a U.S. Securities and Exchange Commission (SEC) enforcement action by agreeing to pay $28.7 million, the regulatory agency said Friday.

The SEC complaint, filed Nov. 15, 2004, covers almost exactly the charges that the U.S. District Attorney for the Northern District of Illinois alleged against Black -- that he, Radler, and others improperly pocketed about $85 million from the sales of Hollinger International newspapers from 1999 through 2003 when they were top executives at the Chicago-based chain that now calls itself Sun-Times Media Group Inc.

The SEC settlement, in which Radler neither admits nor denies the allegations in the complaint, ordered the former Chicago Sun-Times publisher to pay a total of $23,695,227 in "disgorgement and prejudgment interest," plus a $5,000,000 civil penalty. …

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