Conrad Black had served two years in prison for fraud Former media tycoon Lord Conrad Black has lost an attempt to overturn all his convictions for fraud and obstruction.
A Chicago appeals court upheld one fraud conviction and one for obstruction of justice, but reversed two fraud counts.
After serving two years of a six-and-a-half year sentence, Black was recently freed from a Florida federal prison pending the appeal.
He once controlled a media empire that included the Daily Telegraph.
The appeals court said that a recent US Supreme Court ruling on so-called "honest services" law meant two fraud convictions had to be dismissed.
Black's convictions rested partly on the idea that he had deprived his former company of his honest services as a corporate officer.
It is possible that Black will be re-sentenced on the fraud and obstruction charge, and prosecutors will have to decide whether to retry him on the other charges.
Despite losing on two counts, the US Attorney's Office for the Northern District of Illinois said in a statement: "We are pleased that the Court of Appeals affirmed the convictions on fraud and obstruction counts.
"We will make our further intentions known to the District Court at the appropriate time after we have studied the opinion carefully."
This article is from the BBC News website. � British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Source: http://www.bbc.co.uk/go/rss/int/news/-/news/business-11655796
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