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Article: Adelphia Communications' Founding Family Members Are Arrested for Fraud.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- July 25, 2002
CopyrightCOPYRIGHT 2002 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: William Neikirk
Jul. 25--WASHINGTON--The founder of Adelphia Communications Corp. and two of his sons were arrested Wednesday for allegedly conspiring to use the bankrupt cable television firm as their "personal piggy bank," including building a golf course with company money.
John Rigas, 78, the former chairman and chief executive officer who founded the company, and sons Timothy, 46, and Michael, 48, who served as Adelphia executives, were arrested in New York on federal criminal charges of fraudulently looting the company. They were led away in handcuffs.
The Justice Department and the White House boasted that the arrests, along with ...