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 NEW YORK (AP) - A federal appeals court Thursday rejected the appeal of the fraud conviction of John Rigas, making a Hollywood ending unlikely for the one-time projectionist who built one of the nation's largest cable television companies in a tiny Pennsylvania town.
The 2nd Circuit Court of Appeals in Manhattan upheld the conviction of the 82-year-old Rigas and his son, Timothy J. Rigas, on charges of securities fraud, conspiracy to commit bank fraud and bank fraud. The court did reverse their conviction on one lesser count.
Both men are free on bail, but the appeals ruling was likely to lead to a request that they be required to report to prison. John Rigas was sentenced to 15 years in prison, and Timothy Rigas, the company's former chief financial officer, was sentenced to 20 years. Their lawyers can ask for a review by the entire 2nd Circuit court or appeal to the U.S. Supreme Court.
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