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Black, 74, a Canadian-born British citizen, once ran an
international newspaper empire that included the Chicago
Sun-Times, Britain's Daily Telegraph and the Jerusalem Post.
"Lord Black's case has attracted broad support from many
high-profile individuals who have vigorously vouched for his
exceptional character," the White House said in a statement
announcing the pardon.
It said Black had made "tremendous contributions to business,"
had written books on history and served as a tutor while in
prison.
"In light of these facts, Mr. Black is entirely deserving of
this Grant of Executive Clemency," the White House said.
Black said Trump had called him to say that he would be granted
a full pardon, that his conviction was "unjust" and that he
"should never been charged".
"The idea that I would commit a crime is a nonsense," Black told
the BBC. He said that he was now "rebuilding my fortune, life
goes on, this is a great occasion".
The office of Canadian Prime Minister Justin Trudeau declined to
comment.
Black, who has called Trump a friend, published a book last year
praising him, titled "Donald J. Trump: A President Like No
Other."
Black was found guilty in the United States in 2007 of scheming
to siphon off millions of dollars from the sale of newspapers
owned by Hollinger Inc, where he was chief executive and
chairman.
Two of his three fraud convictions were later voided, and his
sentence was shortened. He was released from a Florida prison in
May 2012 and deported from the United States.
In 2013, the U.S. Securities and Exchange Commission banned
Black from acting as a director of a U.S. company and ordered
him to pay $4.1 million in restitution.
Canada's Ontario Securities Commission ruled in 2015 that Black
could no longer hold executive positions at listed companies or
investment funds.
(Reporting by Eric Beech; Additional reporting by David
Ljunggren in Ottawa; Editing by Sandra Maler and Peter Cooney)
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