BUSINESS BRIEFING / COURTS
Times Wire Reports
Imprisoned Adelphia Communications Corp. founder John Rigas and his son, Timothy, must serve sentences of 12 years and 17 years, respectively, a federal appeals court in New York said in upholding terms resulting from their 2004 fraud convictions.
Jurors found that the Rigases lied about the source of $1.6 billion used to buy Adelphia stock and debt and that they stole $51 million in cash advances.
