Legal News

A Rigas Reprieve: Father and Son Receive Lighter Sentences

By Ashby Jones

John Rigas and his son, Timothy, leave Manhattan federal court during the first day of trial, Monday, March, 1, 2004, in New York. (AP Photo/ Louis Lanzano)

A bit of good news for former Adelphia Communications execs John and Timothy Rigas today: Judge Leonard Sand of the Southern District of New York gave each a slight reprieve in their sentences. Adelphia founder John Rigas (pictured) had his sentenced lowered from 15 to 12 years; while his son and former company chief financial officer Timothy had his reduced from 20 to 17 years. Here are stories from the WSJ and the AP.

The duo were found guilty in July 2004 on charges of securities fraud, conspiracy to commit bank fraud and bank fraud related to the former cable company. In May 2007, an appeals court reversed the guilty verdict on one count of bank fraud and Judge Sand was ordered to re-sentence the Rigases. They reported to a federal prison in August after being free pending their appeal.

In cutting the sentences, Judge Sand said “a minimal adjustment is appropriate” in light of the reversal of one of the bank fraud convictions. In making his decision, Judge Sand rejected claims by the defendants that “the prosecution and verdict reflect a ‘post Enron’ hysteria.

Dilworth Paxon’s Lawrence McMichael, an attorney for the Rigases, could not be reached for comment.

Full post as published by Law Blog - WSJ.com on June 25, 2008 (boomark / email).