John Rigas

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  • Adelphia Communications

    1101 Words  | 5 Pages

    the United States and, with various subsidiaries, gives services of cable television and local telephone service to customers in 32 states and Puerto Rico. Adelphia means "brothers" in Greek. It used to be one of America's largest cable companies. John Rigas established the company and served as CEO and chairman. John's son Tim was CFO, and Tim's brothers, Michael, and James were Vice Presidents. All four were council members, along with John's son-in-law Peter Venetis. The Rigases also had 100% possession

  • Adelphia Case 1 Essay

    1058 Words  | 5 Pages

    expenses, such as a $12.8 million golf course. The firm has been accused of hiding business relationships between Adelphia and entities tied to the founders and for inflating its financial results. Who's Who: • John J. Rigas, Adelphia's founder • Timothy Rigas, former CFO • Michael Rigas, former executive VP • James R. Brown, former vice president • Michael C. Mulcahey, former vice president and assistant treasurer What's happened: All were indicted on federal fraud charges. The SEC filed

  • Accounting Ethics

    1315 Words  | 6 Pages

    In one case listed in the complaint, in August of 2000, Timothy Rigas and his friends used an Adelphia jet to fly to Africa for a safari. Timothy Rigas prevented Adelphia employees from keeping records of family's air travel and the company's board never approved family used of the planes, the complaint said. The company also paid for two apartments in Manhattan

  • Forensic Paper

    1628 Words  | 7 Pages

    Running head: Forensic accountant 1 Forensic Accountant Dr. Gina Zaffino Bus 508, Contemporary Business 11/16/2012 Running head: Forensic Accountant 2 Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Although forensic accounting is not a new field, it has become more talked

  • Adelphia: Lying, Cheating, and Stealing

    920 Words  | 4 Pages

    Another son, Michael, only got 10 months under house arrest. In 2008, John and Timothy Rigas were back in appeals court, where one of their 23 fraud sentences was thrown out. Their lawyer argued that their prison terms were unfair. Rigas, 86, had his sentence dropped to 12 years. I find it very interesting that white collar criminal punishment, many incidents involve vast sums of money, seem to get small punishment. Mr. Rigas only was sentenced to 12 years in prison. However, I do think that laws

  • Essay on Adelphia Scandal

    2340 Words  | 10 Pages

    Adelphia Scandal The Dawn of Adelphia Adelphia was founded in 1952 by John Rigas and his brother Gus Rigas in Coudersport, Pennsylvania with the purchase of their first cable franchise for $300. After 20 years, the Rigas brothers incorporated their company under the name Adelphia which derived its name from a Greek word which means brothers, an apt corporate title for a business that would employ generations of the Rigas family. Adelphia was a cable television company and built its success

  • Adelphia Communications Scandal Revealed Essay

    782 Words  | 4 Pages

    Sympathy From the Judge and Received a Light Sentence for Stealing From Old Folks. ________________________________________ The Adelphia Communications scandal broke in 2002 when a footnote in a routine quarterly earnings statement revealed that the Rigas family had borrowed more than $2 billion from the company. But they didn't pay it back. Warning bells started ringing because of the huge amount of cash involved and because of a reference to a peculiar arrangement with Adelphia that made the family

  • Adelphia Communications Corporation: Financial Statements

    1544 Words  | 7 Pages

    The company that I have chosen to portray in my key assignment is the Adelphia Communications Corporation. The Adelphia Communications Corporation was a cable television company headquartered in Coudersport, Pennsylvania. It was owned by John Rigas and was founded in 1952; Adelphia became one of the largest cable companies in the United States. In 2002 Adelphia Corporation filed bankruptcy as a result of internal corruption. Shortly after filing bankruptcy the company headquarters was moved

  • John Rigas Founded Adelphia Communications Corporation

    1829 Words  | 8 Pages

    John Rigas founded Adelphia Communications Corporation (“ACC”) in 1952 for $300. The company was fittingly named Adelphia, Greek for brother, as it employed generations of Rigas family. Skip ahead twenty years; Adelphia officially became incorporated. Roughly ten years later, John Rigas bought out his brother Gus’ stake, and his three sons became employees of Adelphia. His son-in-law was also the head of the board of directors. This positioned the Rigas family into all of the senior executive

  • Liepaja: The City of Wind

    964 Words  | 4 Pages

    Introduction Liepaja is great city with many opportunities especially if you are a student. It is the third largest city in Latvia. Remember to take something cosy and warm with you, because Liepaja is called the “City of Wind” and you can feel some chilly breeze from sea winds. In the summer time you can see that all action is going on at the beach, and people getting perfect suntan, chilling by water with their friends or families or just playing some ball. Language To get by in the city you