WASHINGTON (Reuters) - Hollinger Inc
The SEC said Hollinger Inc and former executives including Conrad Black diverted about $85 million from Hollinger International, now known as Sun-Times, to Hollinger Inc and corporate insiders through purported "non-competition" payments.
Hollinger Inc, the controlling shareholder in Sun-Times, settled without admitting or denying the charges, the SEC said.
A representative from Hollinger Inc was not immediately available for comment.
The SEC said Hollinger Inc, former Hollinger International Chief Executive Black and former Hollinger International Chief Operating Officer David Radler engaged in a fraudulent scheme from 1999 through 2003 to divert proceeds from Hollinger International's sale of newspaper publications.
The agency also said Black and Radler misled Hollinger International's directors and shareholders about the scheme.
Black began serving a 6-1/2-year sentence earlier this month on charges of obstructing justice and defrauding shareholders of Hollinger International, once the world's third-largest publisher of English-language newspapers.
Radler received a 29-month prison sentence in December after pleading guilty to a single count of fraud.
(Reporting by Karey Wutkowski; Editing by Gary Hill)
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