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Tuesday, November 16, 2004

Federal judge lets verdicts stand in Adelphia fraud case
Jeannie Shawl at 11:49 AM ET

[JURIST] A federal judge has refused to overturn the fraud and conspiracy convictions of Adelphia Communications founder and former chairman John Rigas and former CFO Timothy Rigas. The pair were convicted of one count of conspiracy, 15 counts of securities fraud, and two counts of bank fraud for looting the company and lying about its finances. US District Judge Leonard Sand rejected defense arguments that the convictions should be overturned and a new trial granted because the prosecution didn't present enough evidence and the judge made errors during trial. Bloomberg News has more. AP has background on the convictions.

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