Walter Forbes, the former CEO of Cendant is facing a guilty verdict on securities fraud charges as well as charges of making false statements in relation to the extensive internal fraud disclosed by Cendant back in 1998. This would be Forbes' third trial and Forbes is not the first former Cendant brass to get sent down the river. He follows former Cendant vice-chair, E Kirk Shelton who was convicted last year on 12 colorful fraud-related counts. Forbes has continually denied any participation in the fraud at Cendant, and there are those who certainly believe him in that regard. Others less so (including his jury). More details here.

-- MDT

Labels: Cendant