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Patriarch of Fraud: Adelphia Communications Scandal Essay

  • Submitted by: CSMArmyRetired
  • on October 19, 2013
  • Category: Social Issues
  • Length: 1,463 words

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Below is an essay on "Patriarch of Fraud: Adelphia Communications Scandal" from Anti Essays, your source for research papers, essays, and term paper examples.

Trident University International
Edward M. Massey
Module 1 Case Assignment
Course Number:   ETH501
Dr. Gary Shelton
7 October 2013

Patriarch of Fraud: Adelphia Communications Scandal

John Rigas, grew up during the Great Depression in Wellsville, New York and like many Americans he enlisted and served his country during World War II (WWII).   Although he may have taken on some deontological ethics during this time period, such as respecting your neighbor's natural rights (Infamy, 2009). However; at some point after the resolution of WWII, his moral and ethical values changed, as it did in most Americans; developing a staunch opposition to the Soviet Union, convinced the people of this nation to forcefully and zealously embrace the free market system as well as the democratic notion of the good.   With that mindset, John Rigas began his first business venture by purchasing a movie theater in Coudersport, Pennsylvania (PA). Fortuitously, Adelphia was founded in 1952 when John Rigas purchased his first television cable company in Coudersport, PA for $300. Through the help of his brother Gus and later his two sons, John Rigas slowly but steadily expanded cable television into other communities throughout 32 states and Puerto Rico thus taking the company public in 1986, to become Adelphia Communications Corporation (ADELQ). John Rigas was known as an aggressive businessman, not afraid to take huge risks if the expected pay off was high enough; thus operating in this capital-intensive business which seemed to demand constant growth and innovation as conditions of survival, ADELQ became the sixth largest cable operator with approximately 5.3 million subscribers. In his efforts for the continued growth of his company, there may have been a drastic change in both his moral and ethical values, when deciding to manipulate ADELQ's financial reports, better known as "cooking the books". These new values of manipulating and concealing critical financial information...

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