Adelphia Communications founder John Rigas and his son, Timothy, lost their final appeal Monday of their convictions for fraud that led to the collapse of the nation's fifth-largest cable television company. The Supreme Court rejected the appeal without comment. Federal investigators began looking at Adelphia after it said in a footnote to a press release in 2002 that the company had approximately $2.2 billion in liabilities not previously reported on its balance sheet.
Supreme Court Rejects Appeal of Adelphia Founder John Rigas
The Associated Press
March 3, 2008