John James Rigas (born November 14, 1924) is co-founder of Adelphia Communications Corporation, which at the top is one of the largest cable TV companies in the United States. He is also the majority owner of the Buffalo Sabers franchise of the National Hockey League. In 2005, he was convicted on several counts of fraud and sentenced to 15 years in prison.
Video John Rigas
Starter
Born in Wellsville, New York, to Greek immigrants James and Eleni Rigas looking for a better life in the United States for their children, John has three brothers: Gus, Mary, and Katherine. James is a well-reputed entrepreneur in Wellsville, starting out as a shoe-shine man, then introducing Texas hot to Wellsville. John's first job was, at the age of nine, a bushing table. After graduating from Wellsville High School, he enrolled in the US Army and was stationed in the armored infantry division in 1943 and he saw the fighting in France. After the war ended, he returned to live in Wellsville and, shortly thereafter, enrolled at the Rensselaer Polytechnic Institute in Troy, New York. He studied engineering and earned a bachelor's degree in management engineering. He is also a member of Bab Nu Theta of Phi Mu Delta. He then returned to Wellsville, just to take a job with the Sylvania company in Emporium, Pennsylvania.
Maps John Rigas
Business career
In 1952, Rigas began his first business venture by buying a cinema in Coudersport, Pennsylvania, a town between Wellsville and the Emporium. He borrowed money from his family and friends, including his godmother, James Lucas, to buy a theater and start operating it in the evenings while he worked for days at the Sylvania plant.
Rigas cable television company first started in Coudersport when the family bought the city's cable TV franchise. Always looking to grow his company, John has teamed up with his brother Gus to start Adelphia after buying out his partners. They borrow a lot to buy more suburban cable companies and avoid city franchises. Finally, Adelphia becomes the largest cable provider outside of Philadelphia, Pittsburgh, Cleveland, and South Florida and has systems that reach more than 30 countries and over 5.6 million subscribers. Adelphia has also launched product lines such as high speed cable Internet and long distance telephone services.
Rigas was honored many times, including honorary degrees by three universities. In 1997, he bought Buffalo Sabers from Northrup R. Knox's team founder, and installed his son Timothy as team leader. After considering buying a professional baseball franchise, Rigas chose to re-launch Wellsville Nitros as a college summer baseball team in 1998. His political contributions include a total of $ 50,750 to the Republicans, with which he has affiliates, and places a strong value in conservatives. Republican family values.
Charges and criminal detention
Rigas resigned from his position as CEO in May 2002 after being indicted for bank fraud, wire fraud, and securities fraud. His sons, Timothy and Michael, and James Brown and Michael Mulcahey, are also accused of being involved in this crime. Executives are accused of looting corporations by hiding $ 2.3 billion in liabilities from corporate investors and using corporate funds as their personal funds.
John Rigas was convicted on a 2004 summer charge and on June 27, 2005, sentenced to 15 years in federal prison. Adelphia Corporation filed for bankruptcy after acknowledging that three Rigases have taken out $ 3.1 billion in loans not listed on the books. In 2005 John and Timothy were charged with tax evasion and pleaded not guilty in October 2005. On 27 January 2012, allegations of tax evasion were officially dismissed. After John's arrest, the NHL almost disarmed his authority over Saber. After more than a year as a league ward, the franchise was bought by another multimillionaire from western New York, Tom Golisano.
On May 24, 2007, the Second Circuit Court of Appeal reinforced John and Timothy's confidence in 17 of the original 18 decisions. On June 27, 2007, John and Timothy were ordered to report to prison on Aug. 13 for their fraud beliefs. On August 13, John and Timothy reported to the Federal Correctional Complex, Butner, located about 45 minutes northwest of Raleigh, North Carolina, unsuccessful in their request to be allowed to spend time together at a facility near their home in Coudersport, Pennsylvania. On November 1, 2007, after a 20-day bidding war involving 31 bidders, the $ 30 million Adelphia, Macao, former headquarters building was sold to an undisclosed buyer at a $ 3.4 million auction.
On March 3, 2008, the Supreme Court rejected the final appeal without comment. The case is Rigas v. US. , 07-494. The original release date of John is September 4, 2020, but a federal judge reduced his sentence to three years, and his new release date is scheduled to be January 23, 2018. Rigas applied for a presidential pardon in January 2009, but George W. Bush left office without making a decision. Rigas sells his house in Indigo Run, Hilton Head Island, South Carolina, to pay legal fees. Once during the week of November 6, 2011, both John and Timothy were transferred to the Low Safety Facility of Allenwood's Federal Extermination Complex in Pennsylvania. Allenwood FCC is located 2 miles north of Allenwood on Route 15, about 11 miles south of Williamsport.
On December 14, 2015, Rigas's lawyer announced that he was seriously ill with bladder cancer and had between one and six months to live. Rigas was diagnosed with cancer before his conviction and, under his sentence, could seek loving liberation if he had less than three months to live. Judge Kimba Wood issued an order allowing for the release of Rigas on February 19, 2016. In June 2016, Rigas is alive and well enough to make a public appearance.
References
External links
- Prime Life
- Greek News OnLine
- Greek tragedy by MAVIS SCANLON
- PBS Charlie Rose Interview, Conversation with John Rigas 08/10/2007
- John Rigas - Date of Interview: Wednesday 11 October 1989
Source of the article : Wikipedia
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