Cendant CEO, Walter Forbes's was convicted in October '06 of conspiracy to commit securities fraud as well as two counts of making false statements in relation to the massive accounting fraud at Cendant. His sentence, handed down yesterday: twelve years, seven months and $3.3 billion dollars in fines. That's gotta hurt.

Cendant is the company behind such prominent brands as: Ramada, Howard Johnson, Avis, Coldwell Banker and Century 21, among others.

-- MDT

Labels: Cendant, Conviction, Walter Forbes