Adelphia founder Rigas gets 15 years in prison

[SW FL Dem]

http://www.usatoday.com/money/media/2005-06-20-rigas_x.htm?csp=34

Son, Timothy Rigas, sentence to be announced soon.

Edited to add link and change subject to match headline.

[Straight Shooter]

1. Is it my imagination or are the jury verdicts becoming more harsh?

Anyone know?

[SoCalDem]

3. The announced verdicts are probably harsher....but

after a couple of years, they are probably quietly reduced and little mention to the public, means the sentences served are not all that harsh..

If these CEOs have friends with boats, and millions stashed abroad, I would look for some of them to bail before they have to start serving..

[Thor_MN]

7. He was fined a whopping $2300.....

That's right, probably less than a week's pay at waht he was making. Heck, more like a day's pay, if that. They really need to outlaw Corporate Board circle jerks. Make it illegal to sit on the board of another company that has any links back to your own. Make it a requirement that you are at least three links removed from anyone who sits on the board of the company for which you are CEO.

I don't that there are any real shortages of people wanting to be CEOs, why the hell are they getting paid so much?

[Walt Starr]

2. And Kenny-boy Lay still walks

And will never see a day behind bars.

[Greyhound]

4. Adelphia Founder Sentenced to 15 Years

Mon 5:03PM ET - AP
Adelphia Communications Corp. founder John Rigas was sentenced Monday to 15 years in prison by a judge who blamed him for defrauding investors of his bankrupted cable company in one of the largest frauds in corporate history.

Story link

http://biz.yahoo.com/ap/050620/adelphia_fraud.html?.v=16

Still far too few...

[President Jesus]

5. Interesting that he was liberal in the 80s, but then went GOP as he...

...became a criminal in the 90s. Check out his history of campaign contributions: http://www.newsmeat.com/ceo_political_donations/John_Rigas.php

[UpInArms]

6. Rigas son sentenced to 20 years

http://www.marketwatch.com/news/story.asp?guid=%7BF24F8F77%2DF280%2D42D9%2DAF90%2DAC1CB1DA2B7B%7D&siteid=mktw

SAN FRANCISCO (MarketWatch) -- Adelphia Communications founder John Rigas on Monday was sentenced to 15 years in prison for his role in an accounting fraud that led to the bankruptcy of the cable operator three years ago.

U.S. District Court Judge Leonard Sand handed down the sentence to Rigas, 80. John's son Timothy Rigas, Adelphia's former chief financial officer, was sentenced to 20 years in the same federal court in the southern district of New York.

The Rigases were convicted last year on fraud and conspiracy charges in the theft of more $100 million from Adelphia and for concealing $2 billion in debt the family had piled up.

The Rigas family agreed in April to return $1.5 billion in assets obtained through the fraud to settle other criminal and civil charges related to the case.

...more...