{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Cable company founder convicted of fraud' data-url='/boclips/videos/5c54be76d8eafeecae13bcaa' data-video-url='/boclips/videos/5c54be76d8eafeecae13bcaa' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCable company founder convicted of fraud\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Tilt down of courthouse2. Timothy Rigas walking 3. John Rigas walking 4. John Rigas car leavesAdelphia Communications Corporation founder John Rigas and his son Timothy have been convicted of looting the cable company to line their...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Tilt down of courthouse\u003cbr/\u003e2. Timothy Rigas walking \u003cbr/\u003e3. John Rigas walking \u003cbr/\u003e4. John Rigas car leaves\u003cbr/\u003eAdelphia Communications Corporation founder John Rigas and his son Timothy have been convicted of looting the cable company to line their own pockets and deceiving investors by hiding its backbreaking debt.\u003cbr/\u003eA federal jury found each guilty on Thursday of 15 counts of securities fraud, two counts of bank fraud and a count of conspiracy. \u003cbr/\u003eThe bank fraud convictions alone carry up to 30 years in prison.\u003cbr/\u003eA second Rigas son, Michael, was cleared of conspiracy, but jurors remained undecided on the other counts against him. \u003cbr/\u003eFormer Adelphia assistant treasurer Michael Mulcahey was acquitted of all charges.\u003cbr/\u003eThe convictions were another big win for Manhattan federal prosecutors, whose pursuit of white-collar crime has landed them convictions of Martha Stewart and former star investment banker Frank Quattrone.\u003cbr/\u003eBut the verdict was devastating news for John Rigas, 79, who founded the company with a $300 license in 1952, took it public in 1986 and built it into a cable titan by acquiring other systems in the 1990s.\u003cbr/\u003eHe leaned forward in his chair as the verdict was read and did not stand up for 30 minutes after it was finished, receiving hugs in his seat from supporters.\u003cbr/\u003eJohn Rigas and 47-year-old Timothy Rigas, who was Adelphia's chief financial officer, were acquitted of wire fraud charges.\u003cbr/\u003eThe decision came after a four-month trial marked by testimony on complex debt agreements and cable-subscriber numbers.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv 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