just procrastinating

Tuesday, June 21, 2005

Rigas' Sentenced
The founders of this little shop where I work got sentenced yesterday:
Both proclaiming their innocence, Adelphia Communications Corp. founder John Rigas and his son, Timothy, the company’s former chief financial officer, were sentenced to prison -- for 15 and 20 years, respectively -- Monday for their part in what a judge said "culminated in one of the greatest frauds in corporate history."

In downtown Manhattan, U.S District Court Judge Leonard Sand didn’t give any sway to both defendants’ refusal to acknowledge any wrongdoing regarding their actions at Adelphia.

"I think your intentions were to deceive the market and, for a significant amount of time, you were successful in that deceit," Sand told them.
From what I've heard they probably deserved it.

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