#john rigas

The settlement was the largest ever by an accounting firm and included a record penalty of $25 million. Deloitte, the country’s third-biggest accounting firm, neither admitted nor denied misconduct. The $50 million will be paid into the Adelphia victim fund. ‘Were it not for your age and health…’ In a packed Manhattan courtroom, Judge Sand sentenced John and Tim Rigas on June 20, 2005. The press corps filled the jury box to overflowing, while three sketch artists captured the proceedings for the benefit of a television audience. John Rigas failed to acknowledge his guilt. In remarks made prior to his sentencing, he instead apologized to Adelphia shareholders for “this whole thing [which] has happened to all of us” and added, “I may be convicted and sentenced, but in my heart and my conscience, I’ll go to my grave truly believing that I did nothing but try to improve conditions for my employees, for my company, and for my family.” “Were it not for your age and health, I would impose a sentence far greater than I do today,” Judge Sand told the 80-yearold founder of Adelphia before pronouncing a sentence of five years for the conspiracy charge, 10 years for each of 15 counts of securities fraud, and 15 years for each of two bank fraud charges. The sentencing structure calls for John Rigas to serve 15 years in prison. If after Rigas serves at least two years in prison his doctors determine he has less than three months to live, the director of the Bureau of Prisons can petition the court to allow him to die at home.

The settlement was the largest ever by an accounting firm and included a record penalty of $25 million. Deloitte, the country’s third-biggest accounting firm, neither admitted nor denied misconduct. The $50 million will be paid into the Adelphia victim fund. ‘Were it not for your age and health…’ In a packed Manhattan courtroom, Judge Sand sentenced John and Tim Rigas on June 20, 2005. The press corps filled the jury box to overflowing, while three sketch artists captured the proceedings for the benefit of a television audience. John Rigas failed to acknowledge his guilt. In remarks made prior to his sentencing, he instead apologized to Adelphia shareholders for “this whole thing [which] has happened to all of us” and added, “I may be convicted and sentenced, but in my heart and my conscience, I’ll go to my grave truly believing that I did nothing but try to improve conditions for my employees, for my company, and for my family.” “Were it not for your age and health, I would impose a sentence far greater than I do today,” Judge Sand told the 80-yearold founder of Adelphia before pronouncing a sentence of five years for the conspiracy charge, 10 years for each of 15 counts of securities fraud, and 15 years for each of two bank fraud charges. The sentencing structure calls for John Rigas to serve 15 years in prison. If after Rigas serves at least two years in prison his doctors determine he has less than three months to live, the director of the Bureau of Prisons can petition the court to allow him to die at home.