NEW YORK — James Brown, Adelphia’s former vice president of finance, on Thursday pleaded guilty to fraud charges and admitted he conspired with John Rigas, the former chief executive, and his two sons to lie about company earnings, defrauding investors and creditors out of billions of dollars. Adelphia has sued the Rigases for racketeering, breach of contract and abuse of control.
Brown pleaded guilty to conspiracy, securities and bank fraud and agreed to cooperate with authorities and disclose all information about the activities of himself and others in the case.
(via Reuters)
Comments on this entry are closed.