Conrad Black released on $2M bail

CHICAGO, July 21 (UPI) -- Former media mogul Conrad Black was released from a Florida prison on a $2 million unsecured bond while he appeals his fraud conviction.

U.S. District Judge Amy St. Eve, who presided at Black's trial in Chicago, ordered Black's release Wednesday. She said Black should remain in the United States while a federal appeals court decides whether to overturn his 2007 conviction, the Chicago Tribune reported. However, the judge said she was open to allowing Black to return to his home in Toronto during his appeal.

Black must return to Chicago to learn about further conditions of his release, which could happen either Friday or Monday, the court said.

The bond was guaranteed by Black's friend, Roger Hertog, the Tribune said.

Black served more than two years of a 78-month sentence handed down after he was found guilty in 2007 on three counts of fraud and one count of obstruction of justice. The U.S. Supreme Court recently set aside the fraud counts, sending the case back to the appellate court for reconsideration.

Black owned a string of newspapers, including The Daily Telegraph in London, The Jerusalem Post, the National Post and the Chicago Sun-Times. He was convicted of diverting money from his company, Hollinger International, for his own use.