When it comes to surviving cooking-the-book corporate scandals, it's good to be the CEO. After a six-month trial, a jury could not reach a verdict on the 16 counts against former Cendant Chairman Walter Forbes. His main defense was that he was focused on the big picture and unaware of day-to-day happenings. Like Forbes, other top executives at scandal-ridden companies may rely on what some call the "dumb CEO defense."
'Dumb CEO Defense' Spares Cendant Chairman From Prison
New Jersey Law Journal
January 19, 2005
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