{"id":94,"date":"2006-03-05T19:48:40","date_gmt":"2006-03-06T01:48:40","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/?p=94"},"modified":"2012-07-09T10:04:55","modified_gmt":"2012-07-09T15:04:55","slug":"adelphias-former-executive-vp-to-serve-10-months-of-home-confinement","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/adelphias-former-executive-vp-to-serve-10-months-of-home-confinement\/","title":{"rendered":"Adelphia&#8217;s Former Executive VP to Serve 10 Months of Home Confinement"},"content":{"rendered":"<p>Michael J. Rigas, the former executive vice president of cable company Adelphia Communications Corp. will serve 10 months of home confinement and two years of probation. He will also pay a $2,000 fine. This is his punishment for helping to conceal fraud at the company.<\/p>\n<p>Rigas faced up to three years in prison for filing a false statement with the SEC in connection with a 1999 purchase of Adelphia stock for $1.7 million. He reported that source of the money he used to purchase the shares was personal funds. He later admitted that the money actually came from Adelphia.<!--more--><\/p>\n<p>In 2004, his father (John Rigas) and brother (Timothy Rigas, former CFO) were convicted of taking more than $2 billion from Adelphia for personal use, as well as mislading investors about the company&#8217;s performance. John was sentenced to 15 years in prison, and Timothy was sentenced to 20 years in prison. Both remain free on bail while their appeals are pending.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael J. Rigas, the former executive vice president of cable company Adelphia Communications Corp. will serve 10 months of home confinement and two years of probation. He will also pay a $2,000 fine. This is his punishment for helping to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[2003],"class_list":["post-94","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories","tag-adelphia"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-1w","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/94","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=94"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/94\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=94"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=94"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=94"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}