Former Wal-Mart Executive Pleads Guilty To Fraud

Law360, New York (January 31, 2006, 12:00 AM EST) -- Former Wal-Mart executive Thomas Coughlin has pled guilty to criminal fraud charges, releasing a statement acknowledging that he made “serious personal mistakes in judgment.”

Coughlin, a former vice chairman at the retailer, pled guilty to wire fraud and tax evasion charges stemming from allegations that he misappropriated between $100,000 and $500,000 in corporate funds through fraudulent reimbursements and “improper use of corporate gift cards.”

In July, Wal-Mart sued Coughlin for fraud in relation to the reimbursements and $67.5 million in bonuses the company paid him during...
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