ASwanson_Report_121315 - RUNNING HEAD REPORT 1 Report...

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RUNNING HEAD: REPORT1ReportAngela SwansonRasmussen CollegeAuthor NoteThis research is being submitted on December 13, 2015 for Mark Jonas A276/ACG2680 Section 3 Financial Investigation Course.
RUNNING HEAD: REPORT2ReportAdelphia-Adelphia and Rigas family were charged by the SEC with financial fraud. Adelphia didn’t include billions of dollars in liabilities on its financial statements but hide them on the books of the off-balance sheet. They also falsify operation statistics and inflected their earnings to meet Wall Street’s expectations. Adelphia also concealed self-dealings by the Rigas family. Some self-dealings were undisclosed us of corporate funds for family stock purchases and buying luxury homes for their personal use.Adelphia provides cable and telephone services to customers in 32 states and to Puerto Rico. The lawsuit was filed in Federal Court in Manhattan. The founder of Adelphia, John J. Rigas, was involved in this fraud. Also involved in the fraud was Timothy J. Rigas, Michael J. Rigas, James P. Rigas, James R. Brown, and Michael C. Mulcahey.John was the Chairman, President, and CEO of the company. Michael was the Executive Vice President of Operations, and Secretary. Timothy was Executive Vice President, CFO, Chief

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