Feds step in to stop fraudulent conveyance by Cendant Corp exec Walter Forbes to his soon to be ex wife Caren Utzig Forbes

Talk about “accounting irregularities!” I haven’t been following this story but it seems that Walter Forbes, an exec from Cendant Corp (same company as billionaire Henry Silverman who is divorcing his wife Nancy) was busted by the Federal Court for trying to fraudulently convey his million dollar manse to his wife for $10 bucks or something preposterous like that. The guy is sitting in jail right now and is facing¬† insider trading¬†charges; and is being charged also with defrauding investors. That trial is still going on.
Says the American Bar Association Journal:

Saying marital assets were purchased with funds that Walter Forbes fraudulently obtained, acting U.S. Attorney Nora Dannehy argues in her intervention motion that “this court should not allow the Forbes family to undermine the government’s work to enforce the restitution order under the guise of a simple, uncontested, family court matter.”

The disgraced tycoon is reportedly repping himself in this “uncontested divorce” and there is a restitution order to the tune of about $3.3 billion in favor or defrauded investors. Chump change compared to Bernie Madoff, but still, nothing to sneeze at.
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