Adelphia communications scandal what happened to stephen

Attorney James B.

adelphia communications scandal what happened to stephen

It is not surprising: Rigas" , a 77 year-old resident of Coudersport, Pennsylvania. And three top Enron executives go to trial in Houston early next year.

Adelphia Comes Clean

But if Dunstan was gone, his charges lingered. The Growth of Adelphia and Cable Television: The client was Adelphia. Rather than tackle the complexity of the fraud allegations, including how the Rigases used most of the money they borrowed from Adelphia to buy stock in their own company, most reporters focused on the more sensational aspects of the case, including allegations that the Rigases had used Adelphia cash to begin construction of a golf course in Coudersport and to purchase antiques from a store owned by Doris Rigas, John's wife.

Both WorldCom Inc.

The Company They Kept

The Commission acknowledges the assistance and cooperation by the U. But for argument's sake, even if John and Tim Rigas were guilty of fraud, haven't they served enough time?

adelphia communications scandal what happened to stephen

John and Tim will likely pay for the rest of their lives, having been sentenced to 15 and 20 years, respectively. Such conference calls are usually scripted affairs in which executives try to seem candid and analysts pretend to be curious.

The end of the Adelphia saga

Messages about Sabres games and getting haircuts are interspersed with notes on ''stretching'' the numbers, and it is clear that the people in Coudersport were starting to worry that Deloitte could be pushed only so far.

The banks went for it. In February 1999, Brown bluntly informed a large group of bankers and investment bankers, ''The Rigas family intends to use the proceeds of this distribution to purchase equity securities from Adelphia. Cutler, the director of enforcement of the S.

adelphia communications scandal what happened to stephen

The model evolved over the years, as networks like ESPN began to charge operators for their programs, but cable companies raised their rates accordingly.

Start along North Main Street with the movie theater, a prewar, vaguely Art Deco structure that John owns; two fronts down lies the elementary school where his kids got straight A's and that was later converted to Adelphia's headquarters. Having consulted their lawyers last night once back in their New York apartment, in the Saratoga building on East 75th Street, all three family members awoke early in anticipation of the arrest.

The acquisition brought Adelphia 1. Waksal, the former chief executive of the biotechnology company ImClone Systems, was arrested at his Manhattan home and charged with insider stock trading, and L. From 1998 to 2002, it went to Wall Street more than a dozen times to issue stock, bonds, notes, convertibles -- every flavor in Wall Street's pantry.

adelphia communications scandal what happened to stephen

The company establishes Adelphia Business Solutions, a subsidiary, to provide a range of communications products to the business community, including high-speed Internet access, long distance phone service, and voice messaging. Those who followed Adelphia certainly remained bullish, even as the market retreated from its dot-com-induced high.

Wall Street has two opinions of such a story.