Opening arguments in the fraud case against Adelphia Communications Corp. executives began Monday with lead prosecutor Richard Owens telling the jury that "this is a case of lies and greed." Prosecutors charged the patriarch of the Rigas family, John, and his sons, Timothy and Michael, and one other former executive, Michael Mulcahey, with conspiracy and securities, bank and wire fraud that cost shareholders more than $50 billion.
Prosecutors: Adelphia Fall Is Result of 'Lies, Greed'
New York Law Journal
March 3, 2004