The federal government might get to collect billions of dollars in court-ordered restitution under a new divorce decree between imprisoned former Cendant Corp. chairman Walter Forbes and his wife of 27 years.
Bridgeport Superior Court Judge Howard Owens issued a ruling Thursday that orders Forbes' ex-wife, Caren, to transfer ownership of homes in Connecticut and Rhode Island back to him, plus half of the couple's jewelry and art collections.
The ruling allows the federal government and Cendant to attach liens to recover almost $3.3 billion to which the court says they are entitled.
Forbes, 65, was sentenced in 2007 to nearly 12 1/2 years in prison for what is considered the largest accounting fraud of the 1990s. He was also ordered to pay restitution for his role in a fraud scheme that cost the travel and real estate company and its investors more than $3 billion.
Cendant's brands included Ramada, Howard Johnson, Avis, Coldwell Banker and Century 21. It has since been renamed Avis Budget Group.
