The latest twist in the unsavory saga of Lord Conrad Black and media firm Hollinger International [H-Intl] has led to quondam US Pentagon eminence gris Richard N Perle being formally warned by the Securities and Exchange Commission.

H-Intl non-executive director Perle, a high profile adviser during the Reagan administration in the 1980s, has been told that SEC investigators have found enough evidence of wrongdoing to bring a civil lawsuit against him.

The SEC may sue him for his role in the alleged fraud and looting of $85 million (€65m, £45m) from the company by former ceo Black and his erstwhile colleague David Radler [WAMN: 23-Mar-05].

Perle maintains he never profited from the pair's alleged misdeeds.

Data sourced from New York Times; additional content by WARC staff