Tuesday, June 28, 2011
When all was said and done, the fraud Black stood guilty of involved a gain to him of but $285,000. He has made restitution of $32 million. He has been forced to stand aside while his business empire was reduced to rubble and $250 million or so of his own equity destroyed. And he has incurred tens of millions of dollars in legal fees.
On Friday, Judge St. Eve asked the parties to draft an order for the government to disgorge to Black something like $5 million in principal and interest on funds the government had seized from him in connection with counts on which he'd been convicted, and jailed, in error. So while Judge St. Eve is scratching her head over why Black engaged in the conduct she says he did, even some of his critics are wondering why the prosecutors engaged in the conduct they did.
Black himself was without illusions. The man who has been one of the greatest foreign defenders of America since Lafayette or Tocqueville has sold his American home and told his friends of his sadness that, once he finishes prison, his American life will be over and he will not be allowed to return.