Seems Lord B will stay a Lord in spite of being convicted for fraud. That’s fair – life peerages are granted for political services, some less than pure, and the hereditary lords get their titles from ancestors who did a King or Queen a favor, again often of an extra-judicial nature. So he’ll be in like company
The jury did a good job, tossing out 9 of the prosecution’s 13 charges, including racketeering. But they did right to convict him for paying himself a non-compete from a subsidiary.
However, the prosecution is tainted by the use of a bribed partner-in-crime:
One of those who benefited was David Radler, Black’s right-hand man for most of his meteoric rise up the corporate ladder. But Radler turned against him and gave evidence for the prosecution in a deal under which he pleaded guilty in exchange for up to 29 months in jail.
Mark Steyn says the bribee will be out in 6 months.
Although there were calls for Black to be stripped of his peerage, there is no provision for this. The Government once proposed such a law after Jeffrey Archer was jailed for perjury but it was never introduced.
I doubt this government will pass a special law to strip Black of his peerage – his financial manipulations are chicken feed compared with Brown’s accounting for state pension liabilities.
And the last thing the future Lord Brown wants is a precedent that can be used to bust him.