Forbes.com: Update 3: Jury Convicts One Cendant Executive: "A former top executive at Cendant Corp. was convicted Tuesday of fraud and other charges, but jurors could not reach a decision about the role of another executive in the case.
E. Kirk Shelton, the company's former vice chairman, was convicted of 12 counts of conspiracy, mail fraud, wire fraud and securities fraud...
Shelton, 49, and Forbes, 62, were accused of inflating revenue by $500 million at Cendant's predecessor, CUC International, to drive up the stock price. The fraud was reported in 1998, causing Cendant's market value to drop by $14 billion in one day"
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