Prosecution Rests Case in Adelphia Trial6/01/2004 8:00 AM Eastern
Prosecutors rested their fraud case Tuesday against four former Adelphia Communications Corp. executives, Dow Jones reported.
Motions by all four defense teams to dismiss various counts in the indictment were dismissed, according to Dow Jones.
The first defense witness: David Acker, chief executive of a hospital in Coudersport, Pa., where Adelphia was formerly based and where the Rigas family continues to reside.
Former Adelphia chairman John Rigas, his sons -- former chief financial officer Timothy Rigas and former executive vice president of operations Michael Rigas -- and former director of internal reporting Michael Mulcahey are on trial for 24 counts of conspiracy, wire fraud, bank fraud and securities fraud. All four men have pleaded not guilty.
Former VP of finance Jim Brown pleaded guilty to conspiracy, securities fraud and wire fraud in November 2002.