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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (1404)	8/2/1998 1:59:00 AM
From: Rebo	Read Replies (2) \| Respond to of 3627

Cendant Reviews Ex-Chairman's Travel Expenses ---------------------------------------------------------------------- (USA Today, July 31) -- Auditors for Cendant Corp. are investigating possible overcharges on travel expenses filed by former chairman Walter Forbes, who resigned this week following an accounting investigation. The overcharges were found in an 8K form filed by Cendant with the Securities and Exchange Commission. Forbes attached a note to the filing saying he would remit to the company any overcharges found by the committee. The possible overcharges include hotel and private jet bills. If Forbes is unable to account for the expenses, he could lose the $47.5 million severance package he received as part of his resignation. Forbes has denied any knowledge of phony revenue filed by CUC, his former company, which was the basis of the internal audit.