By June , it was revealed to the public that Adelphia lied about its cash flow and amount of subscribers for In order to save the. Spencer Michels reports on the arrests of former executives at the Adelphia cable television company. Last month, Adelphia filed for Chapter 11 bankruptcy, after admitting it inflated revenues and earnings by $3 billion. The complaint alleges that members of the Rigas family that.
John James Rigas (born November 14, ) is one of the founders of Adelphia Communications Corporation, which at its peak was one of the largest cable TV. Tim Rigas and his father John were convicted on 18 counts of fraud and conspiracy in connected with a massive accounting scandal.
WorldCom was not just the biggest accounting scandal in the history of the United States—it was also one of the biggest bankruptcies. Explained: WorldCom has revealed a further $bn in accounting errors, doubling the size of the accounting scandal at America's second.
In , John Rigas purchased a cable company for $ in the town of Coudersport, Pennsylvania, in order to hedge against lost sales for his movie theatre. Adelphia Communications Corporation - Company Profile, Information, Business Description, History, Background Information on Adelphia Communications.
The Enron scandal, publicized in October , eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston. The story of Enron Corporation depicts a company that reached dramatic heights only to face a dizzying fall. The fated company's collapse.
Last week's sentencing of former Adelphia Communications Corp. founder, chairman and CEO John Rigas to 15 years in prison for securities. Make educational timelines or create a timeline for your company website. How to Adelphia served approximately 45, subscribers. Adelphia Scandal.