By WBFO News
Buffalo, NY – A federal appeals court has upheld the fraud conviction of Adelphia Communications founder John Rigas and his son Timothy. At the same time, though, the court reversed their conviction on one lesser count.
Lawyers for the pair had argued that fraud charges should be thrown out because accounting terms were not explained to the jury.
"Defendants are wrong," the Manhattan appeals court wrote bluntly. The court says the government wasn't required to present expert testimony about accounting requirements because the requirements aren't essential to the securities fraud.
The elder Rigas was sentenced to 15 years in prison, while the son got 20 years. They have remained free on bail during the appeals process.
But in dismissing the lesser count, the court did order the Rigases to be resentenced.
"We reverse defendants' conviction on (that count) and we remand for an entry of a judgment of acquittal on this count and for resentencing," the court said.
Adelphia was once the nation's fifth-largest cable operator before an accounting scandal pushed the company to seek bankruptcy protection from its creditors.