The Palm Beach mansion Conrad Black used to secure bail throughout his trial on fraud and obstruction of justice charges sold for $23.1 million (U.S.) this week.

<p>The Palm Beach mansion Conrad Black used to secure bail throughout his trial on fraud and obstruction of justice charges sold for $23.1 million (U.S.) this week.<br /><br />Black and his wife, Barbara Amiel, moved out of the mansion a few days ago, said Paulette Koch, the broker who represented the buyers. A young family from California was settling into the house Thursday night, she said, adding she didn’t know where the former media mogul now lives.<br /><br />Black is out on bail awaiting resentencing after serving two years of a 6½-year term for fraud and obstruction of justice. According to bail conditions, Black cannot return to Canada. With the sale of the Palm Beach mansion, the couple’s heavily mortgaged Bridle Path mansion in Toronto is all that’s left of their former residences, which included homes in New York and London.<br /><br />When Black was arrested in 2005 on charges that he helped spearhead an $83.8 million (U.S.) fraud at Hollinger International Inc., a portion of his $20 million bond was secured through equity in the Palm Beach mansion. Prosecutors tried unsuccessfully to have his bail revoked, arguing that Black misreported the amount of a Canadian tax lien on the Florida home and failed to report that his wife was part owner of the property.<br /><br />According to the Palm Beach Daily News, the five-bedroom, six-bathroom, British Colonial-style house has been through a series of deed transfers since February 2010.<br /><br />First, Black transferred ownership to a company called Blackfield Holdings LLC using a $11.6 million warranty deed, which specified that the transfer was in return for the cancellation of a $10 million debt, plus interest and payments due, secured in a 2005 mortgage to Conrad Black Capital Corp. by Laminar Direct Capital LP of Houston.<br /><br />The mortgage was then held by Plainfield Specialty Holdings II before transfer to LJC Property Holdings LLC, through which the home was sold to Koch’s clients.<br /><br />The transfers allowed Black to maintain his interest in the house. Koch said the home was sold with a clean title.</p>

The Palm Beach mansion Conrad Black used to secure bail throughout his trial on fraud and obstruction of justice charges sold for $23.1 million (U.S.) this week.

The Palm Beach mansion Conrad Black used to secure bail throughout his trial on fraud and obstruction of justice charges sold for $23.1 mill...

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