KKTV 11 News | Colorado Springs, Pueblo |  Breaking News| Weather | School Closings | Traffic

High Fire Danger Wednesday

Adelphia Founder Arrested

By: Associated Press
By: Associated Press

John Rigas is under arrest and facing charges of looting the now-bankrupt cable company he founded.
Rigas was arrested today along with two of his sons, both of
whom also are former executives for Adelphia Communications.
Two other former company executives were arrested as well.
Adelphia provides cable service in most of El Paso County,
Colorado.
Papers filed in Manhattan charge the Rigases with looting Adelphia and using it as their ``personal piggy bank.''
The Securities and Exchange Commission calls the case one of the
most extensive financial frauds ever to take place at a public
company.
The nation's sixth-largest cable company, Adelphia filed for
bankruptcy protection last month.


KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 68466