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Former Wal-Mart Executive to Admit Fraud

A new senior corporate executive is making headlines for financial improprieties. Former Wal-Mart Stores Inc. vice chairman Thomas M. Coughlin, formerly #2 at Wal-Mart, has agreed to plead guilty to five counts of wire fraud and one count of tax evasion. According to an internal company report released in July, Coughlin, whose compensation topped $4 million in 2004, used company money to pay for CDs; beer; an all-terrain vehicle; a customized dog kennel; and a computer (a graduation gift for his son), explaining that they were routine business expenses.

See further details of the plea here.

The Coughlin case has also been covered on White Collar Crime Prof Blog, see here.

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