Conrad Black, ex newspaper tycoon and media mogul, was convicted on three counts of mail fraud and one of obstruction of justice yesterday. According to a Journal article, his offences also included "……billing shareholders $42,000 for his wife's birthday party at New York's restaurant La Grenouille, swindling the company in a $3 million Park Avenue apartment sale and taking the corporate jet on a two-week vacation to Bora Bora in French Polynesia." He was acquitted on nine other lesser charges including racketeering, long-term theft of company stationary and misuse of corporate parking spaces.
Shareholders confirmed they have reached agreement to fit Black with a head-mounted web cam for the duration of his incarceration. The camera, from Mountain View startup CellWeb Security, provides unique visibility into the lives of white collar criminals. "Our software integrates with a variety of enterprise software packages and produces a comprehensive, searchable archive of audio and video footage" said CellWeb CTO Alfred Schwarz, "Employees and shareholders love it. It's their way of sticking it to the man." CellWeb is the latest in a string of highly funded security startups appearing in the Valley. "The executive crime market is hot right now" said Anthony Shield of Stovepipe Ventures, "Victims are looking for pay-back, and are willing to fork out good money to get it"