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Resource ID: #19296
Subject: Fraud
Source: CFO (New York
Affiliation: 
Date: 10/1/98

Description

Cendant Corp. found itself in a tailspin thanks to discoveries of widespread accounting irregularities. Cendant is the corporation that was created after the merger of CUC International, a discount shopping club operator, and HFS, a franchising giant. Despite the problems existing before the merger occured, no one caught the problem. Fink examines how this could happen and why.

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