The Rigas family was not charged interest on most of the $3.2 billion it borrowed from Adelphia Communications Corp., Tatum Partners’ Robert DiBella testified Thursday, according to Dow Jones.
In testimony Wednesday, DiBella guided jurors through a 22-page chart summarizing funds Adelphia and the Rigases borrowed from one another between 1999 and April 2002.
Former Adelphia chairman John Rigas, his sons -- former chief financial officer Timothy Rigas and former executive vice president of operations Michael Rigas -- and former director of internal reporting Michael Mulcahey are on trial for 24 counts of conspiracy, wire fraud, bank fraud and securities fraud. All four men have pleaded not guilty.
Former VP of finance Jim Brown pleaded guilty to conspiracy, securities fraud and wire fraud in November 2002.