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Former Wal-Mart Executive Guilty of Fraud, Tax Charges

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posted on Jan, 31 2006 @ 11:12 PM
Tom Coughlin, 57, a former Wal-Mart Executive pleaded guilty to fraud and tax charges and could face up to 28 years in prison and fines of over one million dollars. Despite a salary of over one million dollars a year, Coughlin stole gift cards, took trips, stole goods, and embezzled money from Wal-Mart. In addition to his salary, Coughlin also received more than three million dollars in bonuses and other financial incentives.
A former Wal-Mart Stores Inc. vice chairman who was a protégé of founder Sam Walton pleaded guilty to fraud and tax charges Tuesday, admitting that he stole money, gift cards and merchandise from the world's largest retailer.

Tom Coughlin, 57, faces a maximum of 28 years in prison after pleading guilty to five counts of wire fraud and one count of filing a false tax return. He also could be fined $1.35 million.

The judge ordered a presentencing report that will take up to 14 weeks to prepare

Please visit the link provided for the complete story.

One had to wonder why a man who makes so much money and has so much at stake will risk everything for what is just chump change for someone of his status. I guess greed knows no bounds. I have never placed much emphasis on money in my life and really only need enough to get buy and I am very frugal. I wouldn't risk a night in jail for a million bucks, but that's just me. I have to feel sorry for the guy because, surely there must be something pathological that drives a man to such extremes.

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