Adelphia Founder's Son Enters Guilty Plea

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NEW YORK -- A son of Adelphia Communications Corp. founder John Rigas pleaded guilty Wednesday to a financial crime, ending a Manhattan case that portrayed the family-run cable television business as a house of fraud before it plunged into bankruptcy.

Michael Rigas, 51, entered the plea in U.S. District Court in Manhattan to a charge of making a false entry in a company record, eliminating the need for his retrial on much more serious securities fraud and bank fraud charges.

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Adelphia Founder's Son Enters Guilty Plea

Rigas, who now works for another cable company, was Adelphia's former executive vice president for operations.

After...

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