Ex-Cendant Chief Hit With $22M Suit Over Assets

Law360, New York (June 20, 2008, 12:00 AM EDT) -- Though he is currently serving a prison term after being convicted of securities fraud, former Cendant CEO Walter Forbes is once again under fire from the U.S. government, which has filed a new suit accusing the former executive of hiding more than $22 million in assets.

In a lawsuit filed on Thursday in the U.S. District Court for the District of Connecticut, federal prosecutors alleges that Forbes transferred $22 million in cash, securities and real estate to accounts opened in the name of his wife and...
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