Author Topic: Adelphia Execs Arrested (Read 541 times)

LePaul · « **on:** July 24, 2002, 10:31:44 AM »

http://www.foxnews.com/story/0,2933,58606,00.html

Good!

Sikboy · « **Reply #1 on:** July 24, 2002, 10:39:52 AM »

Must suck to be rich enough to commit large scale fraud like that, but NOT rich enough to buy the right politicians.

-Sikboy

Mickey1992 · « **Reply #2 on:** July 24, 2002, 10:41:36 AM »

I am honestly surprised that most members of that family didn't flee the country back in May when they resigned. It was so obvious that the toejam was going to hit the fan. Maybe this was back when CEOs thought that they were above the law?

Bonden · « **Reply #3 on:** July 24, 2002, 10:42:06 AM »

Hmmm: I wonder who will be providing cable in my area after this..

Bonden

LePaul · « **Reply #4 on:** July 24, 2002, 10:53:10 AM »

I'm sure if Adelphia begins selling off branches, they'll be bought up fast. Comcast, Cox, etc are growing fast.

I dumped Adelphia in favor of Dish Network (satellite). More channels, less money and I can SPEAK to a representative in mere minutes. Cable Internet was fun, when it worked, but grossly overpriced compared to DSL. If I only had DSL in this part of town!

Bonden · « **Reply #5 on:** July 24, 2002, 10:56:22 AM »

Yes, an Adelphia repairman told me that Cox might be in the picture soon........

Bonden

Pongo · « **Reply #6 on:** July 24, 2002, 11:04:19 AM »

How greedy are these people?
Imagine scoffing an extra billion cause you need it.

AKDejaVu · « **Reply #7 on:** July 24, 2002, 11:57:03 AM »

Quote

John Rigas also allegedly lent himself over $66 million of company funds without making required disclosures, spent $13 million to build a golf course on his property and paid for luxury apartments with the company’s money.

Wow. They managed to do all this since Bush became president?

AKDejaVu

Morgoth · « **Reply #8 on:** July 24, 2002, 12:39:43 PM »

Sure, they have a completely honest and ethical president to follow as an example so ...

AKDejaVu · « **Reply #9 on:** July 24, 2002, 12:49:53 PM »

Do you think this will affect Rensselaer's credibility?:

http://scte.mgmt.rpi.edu/entrepreneurs/rigas.html

Glasses · « **Reply #10 on:** July 24, 2002, 01:26:22 PM »

Adelphia provides Cable services for my area and so far the only thing they have put in was Digital Cable no broadband and even some channels that we're supposed to be getting don't show properly hopeefully in the next buy out they will improve upon that or perhaps give some sort of broadband service,then again in the metro area in PR they pretty much have a monopoly so I guess it's wishful thinking.

10Bears · « **Reply #11 on:** July 24, 2002, 02:44:38 PM »

My question is: Did all this accounting fraud start before or after Jan 20th 2001?

midnight Target · « **Reply #12 on:** July 24, 2002, 02:46:15 PM »

Cool, does this mean I don't have to pay my bill?

Montezuma · « **Reply #13 on:** July 24, 2002, 03:34:36 PM »

Quote

Originally posted by 10Bears
My question is: Did all this accounting fraud start before or after Jan 20th 2001?

Probably before, but the Republican Congress' sabotage of Clinton's SEC director's efforts to reform the accounting industry was also before Jan 20, 2001.

A funny and unrelated item is that the Rigas family refused to carry pr0n on Adelphia systems. They are moralizing hypocrits like Charles Keating.

Fatty · « **Reply #14 on:** July 24, 2002, 03:37:34 PM »

Quote

My question is: Did all this accounting fraud start before or after Jan 20th 2001?

Of course after, how could they ever do something like that under Democratic leadership?

Quote

It also states that Adelphia owned two condominium apartments in Manhattan. Prosecutors alleged that John Rigas' son-in-law had exclusive use of the apartments without paying rent from 1998 through May 2002.

(cnbc)

Quote

In less than four years the complaint alleges they stole hundreds of millions of dollars and through their fraud caused losses for investors of more than $60 billion.

(cnn)

Quote

According to an Adelphia Communications Corp. 10-Q filing, submitted on Sept. 30, 2000, the cable company appeared to provide $76.5 million to help purchase the team (Buffalo Sabres) from Niagara Frontier Hockey L.P.

(Business First)