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Because the Adelphia scandal emerged after the one at Enron, and the company was smaller in size than WorldCom or Tyco, it has garnered less public attention. But for the sheer audacity of the fraud, it ranks high up on the list.
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Feb 22, 2004 ... Adelphia Communications founder John Rigas, 79, two of his sons and former Adelphia executive Michael Mulcahey get their day in court Monday ...
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Corporate scandal - Wikipedia, the free encyclopedia
A corporate scandal is a scandal involving allegations of unethical behavior by people acting within or on behalf of a corporation. A corporate scandal sometimes involves accounting fraud of some so...
en.wikipedia.org/wiki/Corporate_scandal |
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NEW YORK - With the avalanche of corporate accounting scandals that have rocked the markets recently, it's getting hard to keep track of them all--but our Corporate Scandal Sheet does the job. ... Adelphia Communications (otc: ADELA - news - people )
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From 1998 through March 2002, Adelphia, the nation's sixth largest cable-television company, systematically and fraudulently excluded billions of dollars in liabilities from its consolidated financial statements by hiding them on the books of off-balance sheet affiliates. ... More Essays on Adelphia Scandal...
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The scandal stemmed from Adelphia's mountains of debt. Anxious to keep up with increasingly large competitors such as Comcast Corp. and AT&T Corp., Adelphia went on an acquisition binge after 1999 that doubled its size to more than five million subscribers and increased its debt load to $12.6 billion from $3.5 billion.
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The Adelphia Scandal; In 1952, John Rigas purchased his own cable company. By the late 1990's, he had turned it into the sixth largest cable company in the United States with 5.6 million customers. ... The Adelphia scandal is morally wrong because the Rigas family coerced and exploited employees, harmed all stakeholders...
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