Adelphia Founder Sentenced to 15 Year Prison Term

John Rigas, founder of Adelphia Communications Corp. and his son Timothy were sentenced to 15 years and 20 years, respectively, for their part in orchestrating a massive fraud at the Coundersport, Pa.-based cable operator. Last summer the pair were convicted of fraud and conspiracy in hiding $2 billion in debt and taking $100 million from the company coffers. "I apologize for this horrible thing that happened to all of us," the elder Rigas, 80, said in a statement to company shareholders. Both John Rigas and Timothy Rigas, 49, the company's former chief of finance, will begin their sentences Sept. 19.