NEW YORK -- A mistrial has been declared in the fraud case against former Adelphia executive Michael Rigas after the jury said it was deadlocked on 17 counts against him. Judge Leonard Sand dismissed jurors Friday after they said "they tried to no avail" to reach a consensus on 15 counts of securities fraud and two counts of bank fraud in their ninth day of deliberations. Rigas was acquitted of conspiracy and wire fraud charges Thursday, while his father, Adelphia founder John Rigas, and brother Timothy Rigas, former Adelphia chief financial officer, were convicted on 18 counts of conspiracy, securities fraud and bank fraud. Michael Mulcahey, former assistant treasurer at Adelphia, was acquitted of all charges against him Thursday.
- 7/11/2004
- The Hollywood Reporter - Movie News
NEW YORK -- In what prosecutors called a case of lies and greed, Adelphia Communications founder John Rigas and his son Timothy Rigas were found guilty Thursday of conspiracy, securities fraud and bank fraud in federal court in Manhattan as their 18-week trial came to an end. John Rigas and Timothy Rigas, formerly the company's chief financial officer, were convicted of all 15 counts of securities fraud, one count of conspiracy and two counts of bank fraud. The two could face 30 years in prison. The other Rigas son and former executive vp operations, Michael Rigas, was acquitted of conspiracy charges, but the jury has yet to reach a verdict on securities fraud and bank fraud charges against him. Michael Mulcahey, the company's former assistant treasurer and the only defendant to take the stand during the trial, was acquitted of all charges. A relieved Mulcahey hugged his lawyer and wife in the courtroom after the jury returned its verdict.
NEW YORK -- In what prosecutors called a case of lies and greed, Adelphia Communications founder John Rigas and his son Timothy Rigas were found guilty Thursday of conspiracy, securities fraud and bank fraud in federal court in Manhattan as their 18-week trial came to an end. John Rigas and Timothy Rigas, formerly the company's chief financial officer, were convicted of all 15 counts of securities fraud, one count of conspiracy and two counts of bank fraud. The two could face 30 years in prison. The other Rigas son and former executive vp operations, Michael Rigas, was acquitted of conspiracy charges, but the jury has yet to reach a verdict on securities fraud and bank fraud charges against him. Michael Mulcahey, the company's former assistant treasurer and the only defendant to take the stand during the trial, was acquitted of all charges. A relieved Mulcahey hugged his lawyer and wife in the courtroom after the jury returned its verdict.
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