Former Hollinger accountant: I'm innocent

CHICAGO, Dec. 8 (UPI) -- The former chief financial officer of the once-mighty Hollinger International newspaper group has pleaded innocent in Chicago to fraud.

John Boultbee, 62, missed his initial arraignment date but showed up in court Wednesday to enter his plea, the Chicago Sun-Times reported Thursday.

Boultbee, an accountant, is one of five men charged by federal prosecutors for allegedly looting Hollinger of $84 million by setting up non-competition agreements that siphoned money to other entities controlled by Conrad Black, the company's former chairman.

Boultbee, who faces 40 years behind bars if convicted, allegedly "was the architect of much of the tax strategy" that inspired the payments, and he also allegedly helped Black abuse corporate perks by assisting in the purchase of a corporate apartment for a below-market price, prosecutors said.

Black pleaded innocent last week, as did former Hollinger lawyer Peter Atkinson. Another ex-Hollinger lawyer, Mark Kipnis, has also pleaded innocent.

Hollinger's former president and chief operating officer David Radler pleaded guilty in September and agreed to help prosecutors.