How much is enough? When you are a successful executive in the cable TV industry and you are making a nice healthy living, do you need to go out and defraud investors by using corporate money to purchase jet trips, cars and golf club memberships? Does it make sense to buy a $25 swath of land to protect the view from your house on the shareholder’s dime?
Well if your goal in life is to spend your remaining years behind bars then you should do all of the above and be just like John Rigas the founder of Adelphia Communications Corp. who just received 15 years in prison for doing all of the above.
We probably recall how this story ended – a company is bankrupt and sold off to others and shareholders – as they often do, lost out.
As seen in the LA Times.
Adelphia Founder Rigas Sentenced to 15 Years in Prison
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June 20, 2005 5:06 PM
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