View information about John Rigas's arrest and mugshot here on famouslyarrested.com John Rigas. You can view information about John Rigas's arrest and other celebrity arrests. You can view by name or by category. We also have included John Rigas mugshots.
- John Rigas
- May 2002
- Wire, Bank and Securities Fraud
- 15 Years in Prison
The arrest of John Rigas:
Here's the story of the cable guy who drew fifteen years in federal prison. John Rigas was one of the founders of Adelphia Communications…
…at one time one of the biggest cable TV firms in the United States.
He also was part owner of the Buffalo Sabres hockey team.
Things were clear and static free until May, 2002 when Rigas was forced to resign as Adelphia's CEO for wire fraud, bank fraud and securities fraud.
His son's Timothy and Michael were also swept up in the scandal.
hey were accused of looting the company by hiding two and a third billion dollars in liabilities and using corporate funds as their own money.
After his convicted, Rigas was put on ice by the National Hockey League, which forced him to sell his interest in the Sabres.
His prison term started in August 2007 and since 2011, he's been at the Allenwood Federal Correction complex in Pennsylvania.