September 24, 2002

Federal grand jury indicts Adelphia Communications founder John J Rigas, his sons Michael and Timothy, former vice president James R Brown and former director of internal reporting Michael C Mulcahey, charging them with conspiracy, securities fraud, wire fraud and bank fraud; charges address what federal prosecutors say was scheme by defendants to hide about $2.5 billion in debt and other funds that Rigas family misappropriated from Adelphia; US Atty James Comey says scheme is one of most elaborate and extensive corporate frauds in US history; indictment says Rigases set up system of buying stock in Adelphia whenever company issued new shares so that their holding would not be diluted; says they set up credit line that allowed family to borrow money, with loans guaranteed by Adelphia, to assure themselves capital to buy stock; holds false documents were drawn up to make it look as if family members paid money for their stock; Rigas says he and his sons are not guilty and that borrowing agreements were legal and proper; photo (M)

Article on Pauline Alexander, 76, nurse who dispenses medicine and clothing to poor villagers in drought-stricken Rajasthan, India; photos; map (M)

Brazil's real falls by more than 4.5 percent and stock and bond markets also fall sharply, as investors conclude from opinion poll in newspaper Folha de Sao Paulo that left-wing presidential candidate Luiz Inacio Lula da Silva may be on his way to outright victory in first round of voting Oct 6, outcome many businesspeople in Brazil dread; poll shows Silva with support of 44 percent of respondents, widening his lead over center-right government's candidate, former Health Min Jose Serra, to 25 points from 19 points of 10 days ago; main stock index Bovespa falls 3.4 percent, Brazilian real loses 4.9 percent of its value against dollar, and traders are bidding just 51.5 cents on dollar for benchmark government 'C' bond, down from 54.44 cents on dollar; graph; photo (M)

First public meeting of New York City's new Panel for Educational Policy is study in blandness and efficiency, hallmarks of administration of Mayor Michael R Bloomberg, and is in stark contrast to those of powerful and unapologetically political Board of Education it replaced; described; panel votes to approve its own bylaws, appointment of themselves as trustees of Fund for Public Schools, measure making Chancellor trustee of Board of Education Retirement System and contract agreement with union representing custodians' helpers; photo (M)

San Francisco Giants are poised to make playoffs, giving star left fielder Barry Bonds chance to add one more accomplishment to resume: World Series appearance; photos (M)