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Sentencing of John, Timothy Rigas Postponed

2/23/2005 6:47 AM Eastern

Adelphia Communications Corp. founder and former chairman John Rigas and his son, former chief financial officer Timothy Rigas, will have to wait until March 24 to learn their respective fates.

The postponement was implemented to allow for negotiations on what payments the court will require of the two former Adelphia executives, AP reported.

John and Timothy Rigas were found guilty of 18 counts of fraud and conspiracy in July.

Their sentencing was originally scheduled for Jan. 5, then postponed until Wednesday (Feb. 23).

Lawyers have been negotiating over restitution and forfeiture payments that may be required of the father and son, Paul Grand, who represents Timothy Rigas, told AP.

 

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