How This Family Turned $300 Into $3.1 BILLION Then Lost it ALL?
Автор: The Downfall Diaries
Загружено: 2025-05-11
Просмотров: 834
Описание:
How This Family Turned $300 Into $3.1 BILLION Then Lost it ALL?
The incredible true story of the Adelphia Communications scandal - one of the biggest corporate frauds in American history. John Rigas turned a $300 investment into a $3.1 billion cable empire, then systematically looted it with his family through an elaborate web of deception.
Discover how the Rigas family:
• Created a corporate structure giving them 60% control with only 20% ownership
• Hid $2.3 billion in debt through off-balance-sheet accounting tricks
• Spent company money on $6,000 Christmas trees and a $13 million private golf course
• Purchased 3,600 acres of land for $26 million just to preserve their home's view
• Falsified subscriber numbers by claiming 15,000 Brazilian customers they didn't have
• Orchestrated four public offerings that raised $2.8 billion for their personal benefit
The scandal resulted in 15-20 year prison sentences and the largest victim compensation in DOJ history ($728 million). This documentary explores how unchecked greed transformed the American Dream into a corporate nightmare that changed the telecommunications industry forever.
#CorporateFraud #AdelphiaScandal #WhiteCollarCrime #BusinessScandals #JohnRigas #FinancialFraud #WallStreet #CorporateGreed #BusinessFailures #DownfallDiaries
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