The U.S. Supreme Court left intact Adelphia Communications Corp. founder John Rigas ’s 12-year prison term and his son Timothy ’s 17-year sentence, rejecting their appeal for the second time in the corporate fraud case.
Bank of America Corp. is impeding an investigation of its loan modification practices by negotiating settlements with borrowers who must agree to keep them secret and not criticize the bank in exchange for cash payments and loan relief, Arizona officials say.
Citigroup Inc. , Bank of America Corp. , JPMorgan Chase & Co. and other banks agreed to pay $175 million to settle a suit with a legal trust pursuing claims on behalf of bankrupt Adelphia Communications Corp.
Adelphia Communications Corp. founder John Rigas and his son Timothy, in prison for securities fraud, asked a judge to overturn their convictions and sentences, claiming prosecutors withheld evidence that would exonerate them.
Raj Rajaratnam, the hedge fund manager given the longest sentence for insider trading, may serve that time at a North Carolina prison whose inmates include Ponzi scheme mastermind Bernard Madoff, corporate looter John Rigas and terrorist leader Sheikh Omar Abdel Rahman.
Publisher Tribune Co. filed a modified Chapter 11 plan on Oct. 23 incorporating a revised settlement announced this month. In addition to Tribune, proponents of the revised plan include the official creditors’ committee, senior lenders Oaktree Capital Management LP and Angelo Gordon & Co., and JPMorgan Chase Bank NA, as agent for the senior lenders.