Adelphia close to $725 million settlement with SEC, Justice Dept.
Bankrupt cable carrier Adelphia Communications is close to an agreement to pay about $725 million to federal regulators to settle fraud charges. In exchange for the payment, Adelphia wants the government to pressure former executives John and Timothy Rigas, who have been convicted of looting the company, to surrender cable systems they own that are managed by Adelphia.
Wall Street Journal, The
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This story published in USTelecom dailyLead® on 03/24/2005
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