Tuesday, October 31, 2006

Former Cendant Chairman Found Guilty

The former chairman of Cendant Corporation, the old corporate parent of brokerages like the Corcoran Group and Sotheby's International Realty, was found guilty on Tuesday of conspiracy to commit securities fraud and two counts of making false statements. The verdict against Walter Forbes stemmed from a fraud that cost Cendant and its investors more than $3 billion. [NYT]

No comments: