An analysis of Cendant Corp.'s 1998 annual report reveals that, despite the accounting fraud that caused the company to suffer a massive loss in market capitalization (from a high of $ 42.5 per share to a low of $ 6.5), the former chairman of CUC International (the Cendant merger partner responsible for the irregularities) was paid more than $ 50 million in termination benefits following his resignation as chairman and a member of its board of directors. (realtormag.realtor.org)
I believe the people responsible for the criminal acts committed at the former CUC International will eventually be identified through active investigations currently under way by various federal agencies.» (realtormag.realtor.org)
Likely to be overlooked amid the «accounting irregularities» and accusations of fraud involving the former CUC unit of Cendant Corp.is the outstanding financial performance of the company's real estate division during the first half of 1998. (realtormag.realtor.org)