Rigases Facing More Charges

Adelphia founder John Rigas and his son Timothy face more tax-evasion charges under a new indictment by a federal grand jury. The indictment adds 2001 to the years for which 83-year-old John Rigas and his 52-year-old son Timothy Rigas are charged. John Rigas is the founder of the bankrupt Adelphia Communications Corp. Timothy Rigas was once chief financial officer. They are imprisoned following convictions in 2004 in New York on charges including bank fraud and securities fraud. The two have filed an appeal challenging their prosecution in Pennsylvania. In this case, the government alleges they diverted Adelphia funds for personal use without reporting it as income. The new indictment says this caused the government a tax loss of $483 million for 1998 through 2001.