BANKRUPT BANKER
US Supreme Court justice refused to order bail for Conrad Black, former Hollinger Inc. chairman, during the high court's review of his conviction for mail fraud and obstruction of justice.Black, 64, can refile his bail request with a federal trial judge in Chicago, Justice John Paul Stevens said in a one-sentence order released yesterday in Washington. The order is at least a temporary victory for the Obama administration, which argued against bail.Black, convicted in 2007 for his role in the theft of $6.1 million from Hollinger, has been serving his 6 1/2-year prison sentence at a US prison in Coleman, Fla., since March 3, 2008. A codefendant in the case, John Boultbee, was released on bail earlier this month.The Supreme Court in May agreed to hear arguments from Black, Boultbee, and Mark S. Kipnis, former Hollinger corporate counsel. Their appeal contends that they couldn't be convicted under the so-called honest services provision of the mail fraud law because the firm wasn't at risk of losing money.
