Ex-Cendant Exec Faces Civil Suit, Prison Sentence

Law360, New York (November 27, 2006, 12:00 AM EST) -- Former Cendant Corp. Vice Chairman Kirk Shelton has been hit with a double dose of bad news. Not only has a New Jersey court refused to toss a guilty verdict in the criminal fraud case against him, federal prosecutors have hit him with a civil suit as well.

Last week, a New Jersey appeals court upheld Shelton’s fraud conviction. Shelton was found guilty in 2005 of orchestrating a massive fraud at Cendant that wiped out nearly $14 billion in market capitalization in a single day....
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