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Adelphia and Motorola Part of SEC Investigation

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An August 5, 2006, AP story out of Washington points to the Securities and Exchange Commission (SEC) investment fraud investigation of Motorola Inc., the world’s second-largest cell phone maker, and Adelphia Communications Corp., a Colorado-based company that was the fifth largest cable maker in the nation at one time.

Adelphia founder John Rigas and his son Timothy faced a 2004 conviction of embezzling more than $2 billion from the company and misleading investors about Adelphia’s financial performance.

Motorola recently became embroiled in a $1 billion lawsuit in which Colorado-based Adelphia–once the nation’s fifth-largest cable provider–accused it of knowingly assisting some members of Adelphia’s founding family in efforts to create “the false appearance of growth in (Adelphia’s) cable businesses during 2000 and 2001.”