This is not turning into a holly, jolly Christmas for poor Conrad.

The U.S. federal prosecutors have added charges of racketeering and obstruction to the ones of fraud the former Hollinger International honcho was already facing.

Here's an excerpt from the CTV.ca story:

Linda Sims, a business correspondent with CTV Newsnet, said the four new charges are some of the most serious so far against Black, and if proven, could land him in jail for a significant period of time.

"They're throwing the book at him as they say in the movies," Sims said.

The charges, one each of racketeering, obstruction of justice, money laundering and wire fraud, were laid under the Racketeer Influenced and Corrupt Organizations Act (RICO), a tool created in 1970 to use against organized crime, which has lately been used against corporate crime.

RICO gives prosecutors the ability to seize assets related to the alleged crimes, which in Black's case could include his 68 per cent share of Hollinger International, worth millions.

However, Black may be more concerned about possible incarceration, said Sims. The new charges are more serious than the fraud charges already leveled against him, which are often reduced greatly during sentencing. But racketeering charges, if proven, carry a minimum of three years in jail, and 70 per cent of the allotted time must be served if the defendant is found guilty.