Federal judge declares mistrial in Adelphia case - East Valley Tribune: Business

Federal judge declares mistrial in Adelphia case

Font Size:
Default font size
Larger font size

Posted: Saturday, July 10, 2004 7:30 am | Updated: 5:31 pm, Thu Oct 6, 2011.

NEW YORK - The fraud case against former Adelphia Communications Corp. operations chief Michael Rigas ended in a mistrial Friday, with the jury deadlocked on 17 counts against him.

Jurors were dismissed after telling a federal judge they could not reach a consensus on 15 counts of securities fraud and two counts of bank fraud. Rigas was acquitted of conspiracy and wire fraud charges a day earlier.

‘‘There’s no one who questions for a moment that you tried,’’ U.S. District Judge Leonard Sand told the jury. ‘‘Of course we’re all disappointed that you have not been able to reach a unanimous verdict as to Michael Rigas.’’

The mistrial came a day after Rigas’ father, 79-year-old Adelphia founder John Rigas, and his brother, former chief financial officer Timothy Rigas, were convicted of conspiracy, bank fraud and securities fraud.

A fourth defendant, Michael Mulcahey, the cable company’s former assistant treasurer, was acquitted of all charges on Thursday.

Sand said a retrial for Michael Rigas could happen as early as fall. U.S. Attorney David Kelley said outside court that prosecutors would ‘‘adhere to the court’s schedule’’ — an apparent indication the government plans to retry the case.

Michael Rigas did not address reporters as he left the courthouse. His lawyer, Andrew Levander, said: ‘‘It’s a very good result for us. Unfortunately, the government may retry the case.’’

Adelphia, then based in tiny Coudersport, Pa., collapsed into bankruptcy in 2002 after the company disclosed $2.3 billion in off-balance-sheet debt. It now operates under bankruptcy protection in Greenwood Village, Colo.

  • Discuss

'EV Women in Business'

A PDF of the Tribune special section, featuring a mix of sponsored content from our loyal advertisers and newsroom coverage of the East Valley business community.

Your Az Jobs