Feds Intervene in Exec's Divorce, Argue It's a Ruse to Avoid $3.3B Restitution
After Walter Forbes sold his Connecticut home to his wife of 27 years for $10, federal prosecutors decided they had to do something about his pending uncontested divorce.
They are now seeking to intervene in the Bridgeport Superior Court matrimonial case, contending that the imprisoned former Cendant Corp. chairman is trying to avoid paying nearly $3.3 billion in restitution after his 2007 federal conviction in a massive accounting fraud, reports the Connecticut Post.
Saying marital assets were purchased with funds that Walter Forbes fraudulently obtained, acting U.S. Attorney Nora Dannehy argues in her intervention motion that “this court should not allow the Forbes family to undermine the government’s work to enforce the restitution order under the guise of a simple, uncontested, family court matter.”
Caren Forbes is represented by attorney William Champlin III. The newspaper couldn’t reach him for comment.
