Stories & Grievances
The Adelphia Fraud
Slide Show presents the family business Why is It easy to take money? "Because we can".
Jury Begins Deciding Fate of Adephia's Rigas Family
-------------------------------------------------------------------------------- NEW YORK (Reuters) - Jurors began deliberations on Monday on whether Adelphia Communications Corp. founder John Rigas and his sons looted the cable company and cheated investors to fund extravagant lifestyles. The 18-week trial, often weighed down by complex accounting issues, centers on $2.3 billion of off-balance sheet loans that eventually helped drive Adelphia into bankruptcy. John Rigas, his sons, Timothy and Michael, and another executive, Michael Mulcahey, face a minimum of 15 to 20 years in prison if convicted. |