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Feds Parade Rigas Scalps Before Investors
Updated from 10:13 a.m. EST
Three members of the Rigas family that once controlled Adelphia Communications (ADELQ Quote) were arrested Wednesday morning, along with two other former executives at the operator of cable TV systems, on securities fraud charges.
Those same executives, along with a fourth member of the Rigas clan, were also the subject of a civil case filed Wednesday morning by the Securities and Exchange Commission, which alleged that the Adelphia execs participated in "one of the most extensive financial frauds ever to take place at a public company." ...
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