Cendant Sentencing Delayed ; Ex-Exec Faces Up to 13 Years

Summary

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HARTFORD, Conn. - A judge postponed sentencing of a former Cendant Corp. vice chairman for his accounting fraud conviction after saying he faces up to 13 years in prison and should pay restitution of almost $3.3 billon.

E. Kirk Shelton, 50, was convicted Jan. 4 of overstating $300 million in earnings at CUC International Inc., which merged in 1997 with HFS Inc. to form Cendant. Prosecutors accused Shelton and ex- Cendant Chairman Walter Forbes of inflating earnings for a decade. Jurors deadlocked on charges against Forbes, who faces retrial.

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Cendant Sentencing Delayed ; Ex-Exec Faces Up to 13 Years

Shelton faces between 10 and 13 years in prison under federal sent...

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