In April 2002, the Adelphia scandal went public. The main component of the scandal were, Adelphia from at least 1998 through March 2002, fraudulently excluded from the Company’s annual and quarterly consolidated financial statements over $2.3 billion in its bank debt by systematically recording those liabilities on the books of unconsolidated affiliates. Secondly, the company regularly misstated in press releases, including earnings reports, and SEC filings. Thirdly, since at least 1998, Adelphia used fraudulent misrepresentations and omissions of material fact to conceal rampant self-dealing by the Rigas Family. For example, some members of the Rigas family forced the public company to pay for vacation properties and New York City apartments used personally by the Rigas Family, develop a golf course on land mostly owned by the Rigas Family, and issue over $772 million of Adelphia shares of common stock and over $563 million of Adelphia notes for the benefit of the Rigas Family. Soon after the announcement the company had been mired in Chapter 11 bankruptcy. The final verdict on the company was that the Rigas family had to forfeit $1.5billion, the company will pay $715 million to create a fund to compensate victims of the fraud.