Adelphia founder, son indicted on tax fraud charges

[JURIST] Former Adelphia Communications [corporate website] CEO John Rigas and his son, the company's former CFO, have been indicted for failing to pay $300 million in taxes, according to a federal grand jury indictment unsealed Friday. The IRS has said that the pair neglected to pay tens of millions of dollars in taxes and assisted family members in doing the same. Each Rigas is charged with one count of conspiracy to defraud the US government and they received additional charges for tax evasion for the years 1998, 1999 and 2000. The Rigases were convicted last year [JURIST report] on fraud charges which involved taking money from the company for personal use and hiding over $2 billion in company debt. Upon their convictions, John Rigas was sentenced to 15 years in jail [JURIST report] and his son, Timothy Rigas, received a 20-year jail sentence. Both are out on bail pending an appeal. AP has more.

 

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