Media tycoon Conrad Black has denied charges of 11 counts of fraud in the US, linked to a $2.1bn (£1.2bn) sale of hundreds of Canadian newspapers.

US prosecutors say he and three other accused executives fraudulently diverted almost $84m from his media empire, Hollinger International.

An arrest warrant has been issued for the former Daily Telegraph owner, who bought the paper 11 years ago.

Lord Black was already facing a civil case brought by US regulators.

Each criminal count carries a maximum five year jail sentence and a $250,000 fine.

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Conrad Black is the Chairman of the Board and Chief Executive Officer of Hollinger International. He currently serves as the Chairman and as a director of Telegraph Group Limited, London, U.K., and as a director of the Jerusalem Post and The Spectator (London).

He has been described as a fanatical zionist by Lord Gilmour:

“Both he and his wife are almost fanatical, if under-informed, Zionists, whose credo is “My Israel right or wrong”, and who regard any criticism of that country as a demonstration of fierce anti-Israeli bias.

A decade ago, Black, to the great detriment of Israel, bought The Jerusalem Post and turned what had been a fine liberal Zionist paper into what a distinguished member of the British Jewish community called ‘one of the most rabid Jewish publications in the English language’.”

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