Former media mogul Conrad Black is guilty of criminal fraud and obstruction of justice but innocent of racketeering, a U.S. jury found on Friday.

Black, along with three co-defendants, had been accused by U.S. prosecutors of pilfering $60 million in payments that should have benefited his former newspaper company, Hollinger International Inc., and its shareholders.

The verdict came after nearly 15 weeks of testimony in federal court. Black, a member of Britain's House of Lords, could face decades in prison and millions in fines.

Black was found guilty of four of 13 charges.

The prosecution was led by the office headed by Chicago-based U.S. Attorney Patrick Fitzgerald, who also prosecuted former White House aide Scooter Libby.