Adelphia's Ex-COO Pleads Guilty, Faces 3 Years In Jail

Law360, New York (November 23, 2005, 12:00 AM EST) -- The former chief operating officer of bankrupt and scandal-plagued Adelphia Communications Co. has pled guilty in federal court to signing a false statement, a charge that carries a maximum penalty of three years in jail.

Michael Rigas, son of Adelphia founder John Rigas, admitted to signing off on documents that were later proven to be falsified. Rigas was originally charged with bank and securities fraud, although the charges were reduced.

Earlier this year, Rigas was acquitted of conspiracy and wire fraud.

Prosecutors and defense attorneys submitted...
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