Adelphia

Nancy Marble

Adelphia Communications

Bay State College

Adelphia Communications

Adelphia is a Delaware corporation in Coudersport, Pennsylvania and was owned and operated by the Rigas family. Adelphia owned, operated, and managed cable television systems and other related telecommunications businesses. John Rigas is Adelphia's founder and until May 15, 2002, and was its CEO and Chairman of its Board. Timothy Rigas is John Rigas' son and was Adelphia's CFO, CAO, and Treasurer, as well as an Adelphia director and chairman of the Audit Committee of Adelphia's Board. Michael Rigas is also John Rigas' son and was, Adelphia's Executive Vice President for Operations and Secretary of Adelphia. James P. Rigas also is John Rigas' son and was Adelphia’s Executive Vice President for Strategic Planning, as well as a director of Adelphia. James Brown was Adelphia's Vice President of Finance and oversaw the accounting and finance functions at Adelphia and assisted in the preparation of Adelphia filings with the Commission and Adelphia's press releases, including those announcing Adelphia's quarterly and annual operating results. Michael Mulcahey was an Adelphia Vice President and its Assistant Treasurer and was in charge of Adelphia’s cash management system and orchestrated the charade of stock transactions and among other things including the exclusion of substantial portions of Adelphia's bank debt from its consolidated financial statements and issue additional Class B shares to Rigas-controlled entities in order to preserve the Rigas Family's voting control of Adelphia shares.

This case was one of the most widespread financial frauds to ever to take place at a public company. Adelphia the nation's sixth largest cable-television company methodically and fraudulently excluded billions in liabilities from its consolidated financial statements by hiding them on the books of off-balance sheets and also inflated earnings to meet Wall Street's expectations, falsified...