Adelphia Founder, Son Ordered to Prison

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A judge Wednesday ordered Adelphia founder John Rigas and his son, Timothy Rigas, to report to prison on Aug. 13, nearly three years after they were convicted of one of the largest corporate frauds in U.S. history. Both men had been free on bail while they appealed, but U.S. District Judge Leonard Sand said the time had come for the two to start paying their debt to society, The Associated Press reported.

"Too much time has elapsed," he said, according to the AP.

Neither the 82-year-old Rigas patriarch nor his 51-year-old son reacted visibly to the judge's order, which had been expected. Both appeared downcast as they hugged relatives in a courthouse hallway after the hearing, and declined to comment to reporters, the AP reported.

John Rigas was sentenced to 15 years in prison. Timothy Rigas, the company's former chief financial officer, was sentenced to 20 years, the AP reported.-New York State Society of Certified Public Accountants

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Posted June 29th, 2007 by Alla

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