Adelphia Communications Discussion
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Can you talk about or discuss factors that may have motivated defendants to commit fraud within Adelphia Communcations?
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Can you talk about or discuss factors that may have motivated defendants to commit fraud within Adelphia Communcations?
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Adelphia Communications Corporation which was founded in 1952, was the fifth largest cable company in the United States before filing for bankruptcy in 2002 due to internal corruption. The promoters were convicted in 2004 of conspiracy to commit securities fraud, conspiracy to make and cause to be made false statements in filings with the SEC, conspiracy to commit bank fraud, fifteen counts of securities fraud and two counts of bank fraud. In 2005, John Rigas was sentenced [JURIST report] to 15 years in prison, while Timothy Rigas was sentenced to 20 years in prison. In November 2005, another son, ...
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