Cendant forbes trial walter

District Judge Alan H. Prosecutors said Wednesday that there were , victims. Forbes, who testified during the trial, has argued he knew nothing about the fraud. His co-defendant, former Cendant Vice Chairman E.

Kirk Shelton, was convicted in of conspiracy, mail fraud, wire fraud, securities fraud and making false statements to the SEC. He is appealing his convictions. Greece is finally done with its epic bailout binge.

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Or, visit Popular Alerts for suggestions. Walter Forbes goes down Eight years later, the former CEO of Cendant finally gets convicted for his involvement in the financial fraud scandal.

Fortune's Carol J. The conviction came in Mr. Forbes's third trial in three years, after juries deadlocked in trials earlier this year and in early The Cendant case was among the first in a series of corporate-accounting scandals that sparked outrage from investors in recent years, but is one of the last to reach a conclusion.

Christie, the U. Attorney in Newark, N. This is a great day for those who believe that everyone in our society must be held accountable for their conduct. Christie's spokesman. We are extremely gratified by today's results. A Cendant spokesman said, "We're gratified that after all this time justice has finally been served. He did not comment at the hearing. He was given a harsher punishment than Shelton, who was sentenced to 10 years in prison in August for his role in the fraud.

Under federal sentencing guidelines, Forbes faced as much as 15 years in prison. Christie said his office planned to move quickly to recover any assets available from Forbes.