John Rigas
John Rigas was the former CEO and one of the founders of Adelphia Communications Corporation, which at one time was one of the largest cable companies in the United States with millions of subscribers. The company was publicly listed and traded for several years, but had a reputation that its controlling shareholder, the Rigas family, was more interested in using the companies funds for their own luxury.
In 2002, the company was forced to admit that the Rigas family had had taken more than $2 billion in loans that were not recorded on the books. They were charged with hiding billions in debt at the cable company, deceiving investors and stealing company cash to line their own pockets.
Some of the personal luxuries funded using public money include
$13 million to build a golf course in his backyard.
$150 million to buy the Buffalo Sabres hockey team.
$65 million to fund a venture capital group run by his son-in-law.
Spent thousands of dollars to maintain his three private jets.
$700,000 for a country-club membership.
had ordered two Christmas trees flown to New York, at a cost of $6,000, for the daughter of the CEO.
ordered 17 company cars for personal use.
purchase of 3,600 acres of timberland at a cost of $26 million to preserve the view outside the Coudersport home of the CEO.