Rigas Family Said to Face Indictment
Federal prosecutors are preparing to indict members of the founding family of troubled cable giant Adelphia Communications Corp., a person familiar with the investigation said.
The indictment could be filed within two weeks, said the source, who spoke on condition of anonymity. The source provided no other details on expected charges stemming from accounting irregularities and off-the-books debt at the nation’s sixth-largest cable TV company.
Attorneys for the Rigases didn’t immediately return calls seeking comment. Eric Andrus, a spokesman for Adelphia, declined to comment.
Shares of Adelphia were at 21 cents in over-the-counter trading.
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