Vote: What Do You Think of Walter Forbes' Sentence?
We want to hear what you think!
Bloomberg reports former Chairman of Cendant, Walter Forbes was sentenced to 12 1/2 years and ordered to pay $3.28 bln in restitution for the largest accounting fraud of the 90's.
U.S. District Judge Alan Nevas sentenced Forbes, 64, for inflating income by $252 million at CUC International Inc., the company that merged with HFS Inc. in 1997 to create Cendant. Forbes, CUC's chief executive officer, was convicted Oct. 31 of conspiracy and false reporting about company finances.
Tell us what do you think of the sentencing:
Feel free to e-mail us with any other answers or comments.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter