12. Adelphia Communications; $21.5 billion
John Rigas founded Adelphia with a $300 license in 1952, in the town of Coudersport, Pennsylvania. Named after the Greek word 'brothers', Adelphia was the fifth largest cable company in the United States before it filed for bankruptcy on June 25, 2002. The headquarters for the company was moved to Greenwood Village, Colorado shortly after bankruptcy was filed.
Rigas took the company public in 1986 and built it by acquiring other systems in the 1990s.
Majority of Adelphia's revenue-generating assets were officially acquired by Time Warner Cable and Comcast on July 31, 2006. As a result of this acquisition, Adelphia no longer exists as a cable provider.
The founders of Adelphia were charged with securities violations. Five officers were indicted and two (John Rigas and Timothy Rigas) were found guilty.
Federal prosecutors proved that the Rigases used complicated cash-management systems to spread money around to various family-owned entities and as a cover for stealing $100 million for themselves.
John and Timothy Rigas started their prison sentence at the Butner Federal Correctional Complex near Raleigh, North Carolina on August 13, 2007. John received 15 years and Timothy received 20 years.
Image: Adelphia Communications founder John Rigas entering the Federal court | Photograph: Doug Kanter/AFP/Getty Images
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