A federal appeals court upheld the fraud convictions of former Adelphia Communications Corp. Executive John Rigas and his son Timothy Rigas. The Rigas defense team had tried to get the convictions overturned, claiming the jury did not get a full explanation of accounting terms and issues before reaching their verdict. The unanimous appeals court ruling said "the defendants are wrong." John and Timothy Rigas were convicted back in the summer of 2004 for a massive accounting fraud scheme with what was the nation's fifth largest cable company. The men have been free pending this now-failed appeal.
John Rigas received a 15-year sentence and Timothy Rigas got 20 years for their roles in looting the company and engaging in the $2.3 billion accounting fraud. The appeals court upheld convictions on all counts except one. The appeals court did order the men to be resentenced given the reversal of the one criminal count. The decision said the Rigas' appeal failed because the defendants were "required to show that the improperly admitted evidence had a 'substantial and injurious effect or influence' on the jury's verdict. Given the weight of the evidence supporting the jury's verdict on each charge, we conclude that they have not done so. ... Any arguable error was harmless." No new sentencing date is scheduled as of now in the case, which includes convictions on counts including securities fraud, making false statements to the Securities and Exchange Commission, conspiracy and bank fraud.
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