Fraudulent Activity at Adelphia

Adelphia Liable For 2.3 Billion Debt?

Mar 27, 2002

First quarter Adelphia conference call reveals 2.3 billion in co-borrowing debt with Rigas family

NASDAQ Suspends Trading in Adelphia

May 14, 2002

NASDAQ suspends trading in Adelphia stock. Stock last trades at $6.13

Adelphia Files For Bankruptcy

Jun 25, 2002

Adelphia files for Chapter 11 bankruptcy protection

Rigas Family Members Arrested

Jul 24, 2002

John, Tim, and Michael Rigas are arrested. The Rigas family is also named in civil lawsuits brought by Adelphia and the SEC

James Brown: Government Witness

Nov 14, 2002

James Brown, former VP of finance, agrees to testify for the prosecution in the Rigases trial

New Executive Team Named

Jan 17, 2003

Adelphia names former AT&T Broadband executives to CEO and COO posts

Corporate Offices Moved

Mar 28, 2003

Bankruptcy Court Approves headquarters move from Pennsylvania to Denver, Colorado

Rigas Trial Begins in Manhattan

Mar 1, 2004

Government Trial begins in Manhattan

Adelphia Split - Readied For Sale

Sep 21, 2004

Adelphia splits itself into seven parts, making it easier for bidders to make offers for parts of the company

Adelphia Sells 5.2 Million Cable Subscribers

Apr 8, 2005

Adelphia Sells its cable subscribers to Time Warner & Comcast for approximately 18 million in cash & stock

Rigas Goes to Jail

Jun 20, 2005

John Rigas is sentenced to 15 years in prison. Tim Rigas, his son, is sentenced to 20 years in prison.