NavyBillsFan Posted April 25, 2005 Share Posted April 25, 2005 Bend OVER! Dont know if this was posted but here it is.... OUCH! Link to comment Share on other sites More sharing options...
ch19079 Posted April 25, 2005 Share Posted April 25, 2005 if 95% of your assets is 700 mil. that 5% will still keep you out of the poor house. but the best way to hurt the rich is to make them poor. Link to comment Share on other sites More sharing options...
NavyBillsFan Posted April 25, 2005 Author Share Posted April 25, 2005 if 95% of your assets is 700 mil. that 5% will still keep you out of the poor house. but the best way to hurt the rich is to make them poor. 318297[/snapback] I just dont understand why you have to be a thief when you already have millions. I guess when your rich and buy your dreams, you have nothing to live for but be more greedy Link to comment Share on other sites More sharing options...
ektin Posted April 25, 2005 Share Posted April 25, 2005 That is Adelphia has to pay $715 million. Adelphia is going after the Rigas's for $3.2 Billion Link to comment Share on other sites More sharing options...
ektin Posted April 25, 2005 Share Posted April 25, 2005 from the USATODAY.com WASHINGTON (AP) — Bankrupt Adelphia Communications has agreed to pay the government $715 million to settle a federal fraud investigation, Attorney General Alberto Gonzales said Monday. Adelphia will deposit the money in a fund that the government will use to compensate investors hurt by the fraud — making the settlement one of the largest of its kind, Gonzales said. As part of the settlement, members of the Rigas family, the company's founders, have agreed to forfeit more than 95% of their assets. The company did not immediately return calls seeking comment. Adelphia, operating under bankruptcy protection since 2002, had offered to pay $725 million in its negotiations with the government, it disclosed in a regulatory filing last month. It was unclear why the agreement was for less than that. Adelphia, the nation's fifth-largest cable television provider, filed for bankruptcy after founder John W. Rigas and others were accused of using the company as their "private piggy bank" and cheating investors out of billions of dollars. They were convicted of conspiracy, bank fraud and securities fraud last year. Adelphia is seeking $3.2 billion from the Rigas family. The Justice Department had been seeking $2.5 billion in damages from the family, Adelphia said. Link to comment Share on other sites More sharing options...
CoachChuckDickerson Posted April 25, 2005 Share Posted April 25, 2005 Bend OVER! Dont know if this was posted but here it is.... OUCH! 318288[/snapback] Judging by the thread title, you may want to actually READ the links you post. Link to comment Share on other sites More sharing options...
Ray Posted April 25, 2005 Share Posted April 25, 2005 No way they get anywhere near that amount from the Rigases! They may have 50M at most in assets they can liquidate. A golf course in Coudersport, PA, worthless Adelphia stock. When you can't use your company as collateral anymore to take large sums of money you see you are not that rich. Sabres sold for what 50M, okay that is 2% of what they want! Good luck getting it! And thanks for screwing WNY and Buffalo and Empire while you were at it you greedy fools! Link to comment Share on other sites More sharing options...
TheMadCap Posted April 25, 2005 Share Posted April 25, 2005 I just dont understand why you have to be a thief when you already have millions. I guess when your rich and buy your dreams, you have nothing to live for but be more greedy 318302[/snapback] It is because people like that have no fear. Having no fear can allow one to do unspeakable things.... Link to comment Share on other sites More sharing options...
ndmanley Posted April 25, 2005 Share Posted April 25, 2005 if 95% of your assets is 700 mil. that 5% will still keep you out of the poor house. but the best way to hurt the rich is to make them poor. 318297[/snapback] That means they get to keep $37.6M. That isn't exactly making them poor. Now, my guess is the assets they keep are probably assets that cannot be touched by the Adelphia lawsuit. So, they will end up just fine. Link to comment Share on other sites More sharing options...
NavyBillsFan Posted April 25, 2005 Author Share Posted April 25, 2005 Judging by the thread title, you may want to actually READ the links you post. 318378[/snapback] Yeah ill do that. hhahahaahahahahahah Link to comment Share on other sites More sharing options...
Tossy McSalad Posted April 25, 2005 Share Posted April 25, 2005 Bend OVER! 318288[/snapback] I'd rather not talk about this. Link to comment Share on other sites More sharing options...
Arkady Renko Posted April 25, 2005 Share Posted April 25, 2005 I should sue all the companies that have made me lose money in the stock market.... Link to comment Share on other sites More sharing options...
SouthernMan Posted April 25, 2005 Share Posted April 25, 2005 That means they get to keep $37.6M. That isn't exactly making them poor. Now, my guess is the assets they keep are probably assets that cannot be touched by the Adelphia lawsuit. So, they will end up just fine. 318386[/snapback] Haven't really followed the case too closely, but can I assume the Rigas' are now behind bars? It's just like these athletes making millions who end up getting in trouble for rape, drugs, theft, gambling, etc. Here's us working slobs going long hours, fighting traffic everyday for our relatively low wages. And these guys with all their women, wine, and fancy cars are sitting pretty, living high off the hog, not a worry in the world, and they find ways to blow it all. hard to figure. So are the Rigas' doing time? If so, how long? I can't imagine being old man Rigas, having a life of luxury for years, and then being a common prisoner in an institutionalized environment with all freedoms taken away. Link to comment Share on other sites More sharing options...
ndmanley Posted April 25, 2005 Share Posted April 25, 2005 It gets worse. Adelphia (not Rigas) is paying the Justice department $715M. Adelphia is getting the money from the over $1.5B they got from Rigas. It is that $1.5B that represents 95% of their assets. That means he gets to keep $78.9M. What makes this worse is that it appears that both Adelphia's and the Justice department cases will be settled by this. Plus, neither John nor Timothy Rigas have been sentenced yet for their crimes. http://money.cnn.com/2005/04/25/technology...dex.htm?cnn=yes http://www.usatoday.com/money/industries/t...ettlement_x.htm Link to comment Share on other sites More sharing options...
Live&DieBillsFootball Posted April 26, 2005 Share Posted April 26, 2005 Haven't really followed the case too closely, but can I assume the Rigas' are now behind bars? It's just like these athletes making millions who end up getting in trouble for rape, drugs, theft, gambling, etc. Here's us working slobs going long hours, fighting traffic everyday for our relatively low wages. And these guys with all their women, wine, and fancy cars are sitting pretty, living high off the hog, not a worry in the world, and they find ways to blow it all. hard to figure. So are the Rigas' doing time? If so, how long? I can't imagine being old man Rigas, having a life of luxury for years, and then being a common prisoner in an institutionalized environment with all freedoms taken away. 318430[/snapback] The other day you posted about how wonderful and altruistic the rich are. I thought that you would recommend letting Rigas keep all of his money so that he could donate it to charity or hire lots of people and stuff. Link to comment Share on other sites More sharing options...
Alaska Darin Posted April 26, 2005 Share Posted April 26, 2005 WHAT? A uber rich guy just got punched in the gnads while the Republicans are holding the Executive and Legislature? Time to go look out the window in search of the pretty meteor destined to end us all. Link to comment Share on other sites More sharing options...
SouthernMan Posted April 26, 2005 Share Posted April 26, 2005 The other day you posted about how wonderful and altruistic the rich are. I thought that you would recommend letting Rigas keep all of his money so that he could donate it to charity or hire lots of people and stuff. 318680[/snapback] Never said anything remotely close to that. The only point I made was that the government shouldn't automatically have the right to a family's earnings upon a members death. Makes you sound like one of them demented left wing nutcases who hear only what they want to hear. Link to comment Share on other sites More sharing options...
gmac17 Posted April 26, 2005 Share Posted April 26, 2005 I just dont understand why you have to be a thief when you already have millions. I guess when your rich and buy your dreams, you have nothing to live for but be more greedy a lot of people always want more. If you make $20k you say "man, if I only made $50k"....if you make $100k you say "man, if I only made $200k"....if you have $20 million you say, sh*t - I wish I had a golf course to play every day..... Link to comment Share on other sites More sharing options...
Arkady Renko Posted April 26, 2005 Share Posted April 26, 2005 a lot of people always want more. If you make $20k you say "man, if I only made $50k"....if you make $100k you say "man, if I only made $200k"....if you have $20 million you say, sh*t - I wish I had a golf course to play every day..... 318737[/snapback] No rich people are always evil. We should kill rich people and take their money. Link to comment Share on other sites More sharing options...
dave mcbride Posted April 26, 2005 Share Posted April 26, 2005 WHAT? A uber rich guy just got punched in the gnads while the Republicans are holding the Executive and Legislature? Time to go look out the window in search of the pretty meteor destined to end us all. 318686[/snapback] my understanding is that the main guy who went after rigas was elliot spitzer, a dem who in all likelihood will be the next governor of nys. Link to comment Share on other sites More sharing options...
Recommended Posts