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Wednesday 24 July 2002
Adelphia marches into the corporate scandal parade
WNEP 16: Adelphia Founder and Sons Arrested
"The founder of bankrupt Adelphia Communications Corp. and two of his sons were charged Wednesday with conspiracy
for allegedly looting the cable TV provider and using it as their "personal piggy bank'' as they hid more than $2 billion in debt from investors."
The phrase "one of the most extensive financial frauds ever to take place at a public company" seems to be losing meaning these days.
As I've said before, I'm not an Adelphia customer. Nevertheless, this news is potentially infuriating. To think there could be nefarious reasons for the poor service & rate hikes.
posted by Chloe | Wednesday 24 July 2002 6:17 PM
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