Article Abstract:
Cendant Corp., a franchising and marketing company, is investigating possible overcharges on travel and expense reports filed by former chairman, Walter Forbes, who left his position in the midst of an accounting expose. Questions regarding Forbes' expense report arose in an 8K filing that Cendant made with the Securities and Exchange Commission on Jul. 29, 1998. Attached to the filing was a note from Forbes that declared that he is ready remit to Cendant any overcharge the audit committee finds.
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Is investigating possible overcharges on travel and expense reports filed by former chairman, Walter Forbes
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Article Abstract:
Financial regulators and legal prosecutors are warning investors on new financial scams. The new scam involve investments in the so called "prime bank" investments. Prime bank misleads potential investors with secret notes and debentures supposedly issued by European banking institutions. The debentures are supposed to offer 1,000% returns annually however, investors are told that they missed the set date for joining the financial programs and their financial investments are not returned.
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Article Abstract:
Cendant, based in Parsippany, NJ, has cancelled its $3.1 billion acquisition of American Bankers Insurance Group. The cancellation of the merger plan is expected to give the firm, which is the franchiser of brands such as Century 21, Ramada and Avis, opportunity for growth and investment confidence. Cendant hopes to get out of the mess created by an accounting fraud scandal that has wiped out over $23 billion ot its market value since April 1998.
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Cancels $3.1 bil acquisition of American Bankers Insurance Group
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