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Former Adelphia CEO in Allenwood

November 22, 2011
The Luminary

John Rigas, the former CEO of Adelphia Communications serving a federal prison sentence for securities and bank fraud after a $3.2 billion accounting fraud scandal, is back in Pennsylvania, according to a recent report in the Patriot-News of Harrisburg.

Rigas, 86, and his son Timothy were moved to the Federal Prison Camp at Allenwood, in Union County, last week after being transferred from a federal correction institution in Butner, N.C., where they have been since 2007, the report said.

The Rigases were convicted in 2004 after disclosure of off-the-books debt sent the cable giant, headquartered in Coudersport, spiraling into bankruptcy. They are serving 12- and 17-year sentences, respectively, according to the Patriot.

A federal tax fraud case is pending against both Rigases in Middle District Court, the Patriot said.

 
 

 

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