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Rigas Family (Adelphia Communications) ARRESTED by Postal Inspectors
CNBC/WNBC
| 6/24/2
| CNBC/WNBC NY
Posted on 07/24/2002 6:09:48 AM PDT by Petronski
Just heard on CNBC that the capos of the Adelphia Communications empire, John Rigas and his sons, have been ARRESTED on charges of mail fraud regarding the fraudulent activities in their Adelphia Communications media/sports empire.
Some arrests took place in NYC, others in tiny Coudersport, PA (45 miles from here).
A prosecutorial press conference is expected later today.
TOPICS: Breaking News; Business/Economy; Crime/Corruption; Culture/Society; News/Current Events
KEYWORDS:
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To: HAL9000
Press conference 10:30, CNBC.
To: cynicom
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)?
To: Petronski
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.
To: operation clinton cleanup
Right - the govt. thinks it is now magically coordinated. Let's see that happen.
Meanwhile get these bad execs to disgorge.
Disgorge - disgorge - disgorge.
To: usconservative
Hopefully this is the first of what's to come. Pray this be true.
To: section9
Just in time for the stock market open the day after the secret federal reserve meeting. A show?
To: Petronski
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.
27
posted on
07/24/2002 6:59:16 AM PDT
by
cynicom
To: cynicom
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.
To: hchutch
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
29
posted on
07/24/2002 7:04:21 AM PDT
by
bert
To: flamefront
I wonder if they got a cozy little tax break or incentive from the city.
30
posted on
07/24/2002 7:13:04 AM PDT
by
unixfox
To: unixfox
You are unfamiliar with the cable monopolies? - that is the only thing they do.
It is in the mail.
To: bert
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).
32
posted on
07/24/2002 7:28:34 AM PDT
by
drjimmy
To: bert
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.
33
posted on
07/24/2002 7:31:36 AM PDT
by
Hostage
To: Petronski; cake_crumb; mc5cents
34
posted on
07/24/2002 7:42:37 AM PDT
by
Dales
To: 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
To: Petronski
"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
36
posted on
07/24/2002 8:13:32 AM PDT
by
ko_kyi
To: ko_kyi
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.
To: Petronski
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.
38
posted on
07/24/2002 8:18:40 AM PDT
by
DJ88
To: Petronski
They were lead away in handcuffs, according to Neal Cavuto.
To: DJ88
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.
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