• United States



Former Wal-Mart Executive to Admit Fraud

Jan 09, 20061 min
CSO and CISOData and Information Security

Former Wal-Mart Stores Inc. vice chairman Thomas M. Coughlin will plead guilty to five counts of wire fraud and one count of tax evasion later in January.

The Washington Post reports that the government and defense lawyers agreed that he would serve 27 months in prison, however the plea is still pending. It is also unclear whether the plea involves Coughlin giving investigators information to investigators about other conduct issues within Wal-Mart.

Coughlin was the No. 2 executive at Wal-Mart until January 2005, and was ousted over accusations of financial improprieties of up to $500,000. An investigation also lead to three other high-ranking employees getting fired.

Wal-Mart told The Washington Post the company was not commenting on the issue. Read more.

By Paul Kerstein