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.
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The shift will happen gradually starting this summer until December, when QBOA will be discontinued.
February 6 -
The new Pilot AI Accountant claims to run the entire bookkeeping and financial reporting process with zero need for human intervention.
February 6 -
The tax-filing season for individuals just opened recently, but businesses already got a head start on various tax incentives in the One Big Beautiful Bill Act.
February 6 -
PCAOB adds to advisory groups; Schneider Downs transitions to single CEO structure; and more news from across the profession.
February 6 -
The Top 75 Firm acquired D & Co., expanding its presence in Texas and strengthening its healthcare specialty.
February 6 -
Plus, Sage rolls out AI enhancements for reporting, AP, sales; Datarails launches Spend Control solution for contract visibility.
February 6





