Feds set to indict Adelphia family
By David Lieberman, USA TODAY
NEW YORK - Federal prosecutors have prepared an indictment of Adelphia Communications founder John Rigas and his three sons — former executives Timothy, Michael and James — and, barring an unforeseen circumstance, are planning to file it as early as this week, according to a source close to the investigations. The criminal charges are expected to be filed in tandem with a civil lawsuit by the Securities and Exchange Commission, the source said. The Justice Department and SEC declined to comment, and the exact combination of charges was not clear. But they could include bank, mail and wire fraud. SEC charges might include falsifying Adelphia's public filings.
"It's very common for investigators to operate on a parallel track," says Jacob Frenkel, who chairs the securities enforcement and white-collar crime practice at Smith Gambrell & Russell. "The SEC and Justice Department can bring the exact same charges for the exact same conduct." ...
At the exact same time?