Former Adelphia Communications Corp. director of internal reporting Michael Mulcahey testified Tuesday that he didn't intend to deceive anyone when he adjusted the MSO’s financial data given to bank lenders, AP reported.
Mulcahey added that he was not responsible for calculating whether Adelphia met certain financial standards required by its bondholders, according to AP. He said he was unaware that the first document he signed certifying compliance with these requirements stated that the necessary calculations had been performed.
Former Adelphia chairman John Rigas, his sons -- former chief financial officer Timothy Rigas and former executive VP of operations Michael Rigas -- and Mulcahey are on trial for 24 counts of conspiracy, wire fraud, bank fraud and securities fraud. All four men have pleaded not guilty.
Brown pleaded guilty to conspiracy, securities fraud and wire fraud in November 2002.