Government stops Conrad Black from selling mansion

The sale of Conrad Black's sprawling Bridle Path mansion has been put on hold by the Canada Revenue Agency (CRA) over alleged unpaid income taxes. According to the CRA, Black owes $12,307,717.15 in Canadian income tax and an additional $2,771,196.84 to the IRS, for which it has placed a lien totalling $15 million on the home.

For his part, Black denies the claims. Speaking to the Globe and Mail, he said that "it's nonsense, but a legal matter we'll work out judicially."

The beleaguered media tycoon had initially planned to sell the 23,000 square foot mansion at auction, but instead accepted a preemptive offer to the tune of $16.5 million with an arrangement to lease back the property where he would continue to live. The sale is now in jeopardy as the matter is taken up by Black's lawyers.

by Derek Flack via blogTO