Rigas arrested on conspiracy charges
NEW YORK -- John Rigas, the founder of bankrupt Adelphia Communications Corp. and owner of the Buffalo Sabres, and two of his sons were charged Wednesday with conspiracy for allegedly looting the cable TV provider and using it as their "personal piggy bank.''
Authorities said the defendants hid $2.3 billion in liabilities from investors.
In addition to the criminal charges, the Securities and Exchange
Commission brought a civil lawsuit Wednesday in U.S. District
Court, calling ...
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