Former Adelphia Communications Corp. executive Michael Rigas was sentenced to two years probation -- the first 10 months in home confinement -- a $2,000 fine and a $100 special assessment by U.S. District Court Judge Jed Rakoff for signing off on false documents tied to the massive accounting scandal at the cable operator, according to a spokeswoman for the U.S. Attorney’s Office in New York.
Rigas, Adelphia’s former executive vice president of operations, pleaded guilty in November to the lesser charge of signing a false statement after his earlier trial on 15 counts of securities fraud ended in a mistrial in July 2004. The lesser charge carried a maximum sentence of three years in prison and a $250,000 fine.
Michael Rigas fared better than his brother, former Adelphia chief financial officer Tim Rigas, and his father, former Adelphia chairman John Rigas, who received 20 years and 15 years in prison, respectively, for their convictions on 18 counts of conspiracy, securities fraud and bank fraud at their sentencing last June.
John and Tim Rigas are appealing their convictions.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.