So another of the Clinton Era bubble.com swindlers is off to the pokey, John Rigas of Adelphia got fifteen years, a tough sentence for an 80-year-old man with cancer. But he’ll have company:
Adelphia Communications Corp. founder John Rigas was sentenced to 15 years in prison Monday and his son Timothy Rigas was sentenced to 20 years in prison for their role in the cable company’s fraud.
For John Rigas, who is 80 years old and is fighting bladder cancer, the punishment could amount to a life sentence. However, the elder Rigas could have his sentence reduced if his health worsens. The two men were set free on bail and will begin to serve their sentences on Sept. 19…
The Rigases are among a slew of former corporate executives who have faced charges since the fall of Enron Corp. in 2001 touched off a parade of white-collar scandals. Former WorldCom Inc. CEO Bernard Ebbers faces sentencing next month after he was convicted of presiding over that company’s record $11 billion accounting fraud.
No word yet on Global Crossing.