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Ex-Hollinger CEO to refuse to testify

Hollinger International Inc.'s former chief executive, Conrad Black, plans to refuse to testify before federal regulators, the Wall Street Journal said on Monday, citing people familiar with the matter.
/ Source: Reuters

Hollinger International Inc.'s former chief executive, Conrad Black, plans to refuse to testify before federal regulators, the Wall Street Journal said on Monday, citing people familiar with the matter.

Black, who resigned in November as CEO of the Chicago-based newspaper chain, was set to testify Monday before the U.S. Securities and Exchange Commission as part of the agency's investigation into financial wrongdoing at the company, the paper said.

The Hollinger empire, which publishes London's Daily Telegraph, the Chicago Sun-Times and Jerusalem Post, has come under fire from regulators and shareholders about its dealings, including $32 million in "non-competition" payments not authorized by Hollinger International's board.

Black plans to cite his Fifth Amendment right against self-incrimination, on the advice of his lawyers, according to people familiar with the matter, the paper said.

Black was unable to be immediately reached for comment.