Friday, November 11, 2011

John Rigas, convicted former CEO of Adelphia Cable, returns to Pennsylvania


John Rigas, the former CEO of Adelphia Communications serving federal prison time for securities and bank fraud after a $3.2 billion accounting fraud scandal, is back in Pennsylvania.
The 86-year-old Rigas, and his son Timothy, took up residence this week in the Allenwood federal prison, Union County.
Rigas and his son were convicted in 2004 after disclosure of off-the-books debt sent the cable giant spiraling into bankruptcy. They are serving 12- and 17-year sentences respectively.
The Rigases were transferred to Pennsylvania from a federal prison in Butner, North Carolina, where they have been since 2007.
“The authorities were satisfied my father’s health was good enough to move away from a medical facility,” said John’s oldest son Michael. The elder Rigas had been diagnosed with bladder cancer prior to his conviction.
A federal tax fraud case is pending against both Rigases in the Middle District of Pennsylvania, and Allenwood is closer to the court.
It is also closer to the family in Potter County.
“It will certainly be easier for the (six) grandkids to visit,” said Michael.
Allenwood is a two hour drive. Butner took three days.
The tax trial isn’t expected to begin until next year.

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