Conrad Black loses Florida mansion: report
Conrad Black no longer owns title to the Florida mansion he bought in 1997, the Globe and Mail reported Thursday.
The paper says the former newspaper magnate and his wife transferred the deed of the 21,000-square-foot oceanfront home in February to a Connecticut-based investment firm — Blackfield Holdings LLC — to settle an $11.6-million mortgage.
The five-bedroom, six-bathroom house is now listed for sale by a Palm Beach real estate agent, Linda Gary.
The listing describes it as a "splendid British Colonial estate" with a butler's pantry, guest house, movie theatre and exercise room. No price is attached to the listing, but the Globe says the house is assessed for tax purposes at $32.6 million US.
Black still owns a house in Toronto. He had previously sold homes in London and New York to raise cash to help finance his long and expensive legal fight.
Black is currently in a Florida prison serving a 6½-year sentence for fraud and obstruction of justice in connection with his tenure at the top of the Hollinger International newspaper group. He is scheduled for release in 2013.
In 2006, Black put up the Palm Beach estate as collateral to post bond.