Investment Fraud: Great frauds in history: John Rigas and Adelphia

29 Dec 2019 11:13 PM | Anonymous member (Administrator)

John Rigas was born in Wellsville, New York, in 1924. He served in the second world war and graduated with a degree in engineering, later buying a cinema in a town in Pennsylvania. In 1952 he bought the local cable television station for $300, naming the new company Adelphia Communications Corporation. By borrowing large sums of money to fund takeovers, Adelphia was able to expand beyond the local area, eventually becoming one of the largest providers in the US of cable television, long distance telephone calls and then later broadband internet.

https://moneyweek.com/519832/great-frauds-in-history-john-rigas-and-adelphia/


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