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Rigas Retrial Begins

3 comments | Friday, October 28, 2005

The Michael Rigas re-trail for securities fraud began Monday in federal
court in New York City.

Last July, a jury found Rigas not guilty of wire fraud and conspiracy. Also
last July, a Manhattan jury found Adelphia Communications founder John
Rigas and Michaels' brother, Timothy guilty of conspiracy, securities fraud
and bank fraud.

John Rigas was sentenced in to 15 years in prison, and Timothy was sentenced
to 20 years.

Both are out on bail pending an appeal.

posted by joshhatcher

at 6:55 AM Permalink