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Adelphia founder jailed for 15 years for fraud

By Joshua Chaffin in New York

Published: June 20 2005 21:03 | Last updated: June 20 2005 23:44

John Rigas, 80, founder of Adelphia Communications, was on Monday sentenced to 15 years in prison for looting the cable television company and lying to investors. His son Timothy, former chief financial officer, received 20 years.

The sentences were stiff by historical standards for white-collar crime, and are an ominous sign for other former executives awaiting sentencing.

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