Rigas Family (Adelphia Communications) ARRESTED by Postal Inspectors

CNBC/WNBC | 6/24/2 | CNBC/WNBC NY

[Petronski]

Press conference 10:30, CNBC.

[Petronski]

They were so arrogant that they had a standing order with real estate firms in the county, apprise them of every piece of real estate coming on the market in the county.

I didn't know that, are you a local (or maybe a Sabres fan)?

[usconservative]

Someone wake me up when they arrest the Enron, Arthur Anderson, WorldComm, Global Crossing and CitiCorp exec's (and anyone else I forgot) who are responsible for f'ing up the economy, and shaking investor confidence so badly through their half-assed, half-baked, rape-the-investor-of-all-their-hard-earned-dollars schemes.

Hopefully this is the first of what's to come. Someone go arrest Robert Rubin @ Citicorp while they're at it. He flagrantly broke the law, and is about to bring down one of America's premiere banking institutions because of his Clintonian "is-is" ways.

[flamefront]

Right - the govt. thinks it is now magically coordinated. Let's see that happen.

Meanwhile get these bad execs to disgorge.

Disgorge - disgorge - disgorge.

[Petronski]

Hopefully this is the first of what's to come.

Pray this be true.

[flamefront]

Just in time for the stock market open the day after the secret federal reserve meeting. A show?

[cynicom]

Pet...

Still have roots there and have niece that works for Adelphia. Anyone with a working brain would have known these people were throwing a lot of money around that no billionaire would ever do. As it turned it out, it was'nt their money.

[Petronski]

John, sons Tim and Michael, arrested in NYC, for $3.1bn in off-books loans to selves from corporation: mail/wire fraud, conspiracy to commit securities fraud, possibly other charges.

Two other guys arrested in Coudersport, same story.

[bert]

here is a link http://www.tray.com/cgi-win/x_allindiv.exe

Sadly, it appears that Doris is the family contributor and she gives to GOP

[unixfox]

I wonder if they got a cozy little tax break or incentive from the city.

[flamefront]

You are unfamiliar with the cable monopolies? - that is the only thing they do.

It is in the mail.

[drjimmy]

Go to opensecrets.org and check out the "who's giving" section and you will see that the whole family gives money to politicians. The vast majority of it goes to Republican candidates or to the cable TV PAC, which gives the majority of its money to Republicans as well (though they try to play it safe by supporting some Democrats).

[Hostage]

Relevant to GOP's angst in arresting the hands that feed them. Hastert was described yesterday as angry that he expected bad news and underhandedness from Democrats, not from GOP backers.

I find no comfort in the fact that Republicans have the principle to prosecute their own, as opposed to Democrats who for a suitable donation can be bought off to look the other way. Would rather see the SEC and Justice go after Rubin, McAuliff, HRC and their respective cabals.

[Dales]

I didn't see your piece when I posted mine. Sorry about that! There are some interesting comments on this thread by some people who know some members of the family.

[Petronski]

RUMOR: There is a report from a man who lives near the area that there have been multiple SHOOTINGS in Coudersport this morning. Can anyone confirm this?

The guy might have overheard/misheard gossipy threats, or he might be in the loop on a soon-to-break story out of Coudersport.

END RUMOR REPORT

[ko_kyi]

"Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed. Money is so noble a medium that it does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot. "

Francisco d'Aconia

[Petronski]

They started this company out small, and like any closely-held company, learned to treat the corporation as a personal savings account.

Problem is, they never seemed to come to understand that they were publicly held.

And for all this, Buffalo loses the Sabres and old man Rigas is going to die in prison.

Speechless.

[DJ88]

I don't know if that rumor is true, because I was listening to the CNBC reporter who was standing outside a Manhatten courtroom, where according to him, the 3 men (not sure of the other two) were waiting arraignment. Hmm.

[texasbluebell]

They were lead away in handcuffs, according to Neal Cavuto.

[Petronski]

I don't know if that rumor is true....

I tend to discount the shooting rumor, as this story broke at 9am, and the Buffalo TV stations would probably be on the scene by now to have picked up the story and put it on the wires.