Crook Alert 7--Forbes could get 16 years in Cendant case
Walter Forbes, Corporate CEO Crook
Walter Forbes, blueblood HBS grad could get 16 years in Cendant fraud case
Walter Forbes, Illinois blueblood and Harvard Business School grad, may get 16 years in $252 million Cendant corporate fraud case that has been under investigation and prosecution for ten years. Forbes held the record for accounting fraud until his scheme was eclipsed by Jeff Skilling of Enron and Bernie Ebbers of Worldcom. Skilling was also a graduate of Harvard Business School.
1-18-17NYTimes--Walter Forbes Sentenced to 12 years, 7 Months for Cendant Accounting Fraud
- Ex-Cendant Chairman Sentenced for Fraud - New York Times
Walter A. Forbes, was sentenced to 12 years and 7 months in prison and ordered to pay $3.275 billion in restitution.