Former media tycoon Conrad Black may have to fight his conviction from jail if a US judge decides today he could flee before she sentences him later this year.
But it is more likely Judge Amy St Eve of US District Court in Chicago will allow the Black (62) to remain free pending the November 30th sentencing date at which she may order him to prison for 15 to 20 years, legal experts said.
The Canadian-born Black surrendered his British passport - he renounced his Canadian citizenship in 2001 to become a British lord - to the judge last Friday, shortly after a jury delivered its verdict.
He was found guilty on three fraud counts and one count of obstructing justice in swindling $2.9 million from former media giant Hollinger International.
Three fellow former executives were also convicted.
The defendants had faced a total of 16 counts alleging they defrauded their former company of some $60 million in fees that should have benefited shareholders, as well as abusing company perks and filing false tax returns.
After the verdict, prosecutor Eric Sussman immediately asked that Black be jailed, calling him a flight risk who has misrepresented his wealth to the government during the case's pre-trial phase.
Black's lawyers disagreed, arguing that Black was too widely known even if he wanted to escape and was eager to work on an appeal. Black remains free on $21 million bond - which the judge had increased before trial amid disputes about his assets.
Black put up his Palm Beach, Florida, mansion as collateral and had other assets frozen, including a $2.6 million diamond ring and $9 million in proceeds from the sale of a New York apartment.
Prosecutors argued Black failed to keep up payments on his $32 million Palm Beach estate and has hidden assets by transferring them to his wife, columnist Barbara Amiel Black.
Judge St Eve ordered Black to surrender his passport and remain in the Chicago area until Thursday's hearing to discuss his freedom.