Adelphia Owner Forfeits 95% of Family Assets

[gstelmack]

http://money.cnn.com/2005/04/25/technology/adelphia_settlement.reut/index.htm?cnn=yes

Adelphia forks over $715million, and the owner agrees to forfeit 95% of the family's assets, as a settlement for the fraud investigation.

They don't all get away with it http://dynamic2.gamespy.com/%7Efof/forums/images/smilies/wink.gif

[rkmsuf]

5% of 50 trillion is ok.

[KevinNU7]

5% of 50 trillion is ok.
50 trillion is ofcourse an exaggeration

[rkmsuf]

50 trillion is ofcourse an exaggeration

of course

ok 30 trillion.

[Franklinnoble]

Bah.

Most of his personal net worth will be hidden in offshore accounts anyway. This isn't going to hurt him that much.

[gstelmack]

Bah.

Most of his personal net worth will be hidden in offshore accounts anyway. This isn't going to hurt him that much.
This wouldn't hurt?

The assets include privately owned cable systems worth between $700 million and $900 million; all Adelphia securities owned by the family and its affiliated entities, including convertible subordinated notes with a face value of about $567 million and about 44.7 million shares of common stock; and parcels of real estate worth about $10 million.

[Franklinnoble]

This wouldn't hurt?
Seriously, how much money do you need to live really comfortably for the rest of your life?

I could set up myself and all of my family for life for about $50 million. I guarantee this dude's got at least that much weaseled away someplace. He ain't gonna starve.

Once you start hitting a net worth of over $10 million, everything on top of that is just gravy. Unless you're an idiot with some sort of addiction, or just totally stupid with your money, you should never have to work another day in your life.

[Galaxy]

Bah.

Most of his personal net worth will be hidden in offshore accounts anyway. This isn't going to hurt him that much.

Don't worry, the government will find it. Plus, the "wealth" is assets, not so-much "cash".

[Franklinnoble]

Don't worry, the government will find it. Plus, the "wealth" is assets, not so-much "cash".
I doubt it.

Besides, he still keeps 5% of what they do find... that's 5% of $600 million.

I can eat for $30 million.

[Galaxy]

I doubt it.

Besides, he still keeps 5% of what they do find... that's 5% of $600 million.

I can eat for $30 million.

Terrell Owens may disagree with you. You know, he's gotta feed his family. :)