Wal-mart executive pig at the trough
It’s not enough to make a million dollars a year at a company that screws its workforce over. Here’s a guy — a vice chairman, no less — who stole cash, merchandise, and freaking gift cards from the House that Sam built.
Maybe he can pass some of that booty around when he’s in the clink making friends and influencing people. (CNN):
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.
…Wal-Mart lawyers referred Coughlin to federal prosecutors after discovering Coughlin had embezzled money from the company and used expense vouchers to buy products as varied as snakeskin boots, hunting trips and Bloody Mary mix. They estimated losses at up to $500,000.
…In federal court, Coughlin spoke only when he was asked questions by U.S. District Judge Robert Dawson. Afterward, defense lawyers issued a statement in which Coughlin accepted responsibility for “serious personal mistakes in judgment.”
…Coughlin specifically admitted:
* Falsifying a travel expense voucher to pay $700 allegedly for travel and meeting expenses, but which was actually for the care of Coughlin’s hunting dogs.
* Using a false invoice for $6,500 to pay for a private hunting lease.
* Using a false expense statement to cover $2,695 for upgrades to his 1999 Ford truck, which he claimed as reimbursement for meeting expenses.
* Using fraudulently obtained gift cards to pay for a cooler, two cases of Smirnoff, two cases of Miller Light beer, a bottle of Jack Daniels, a carton of tequila, and other items from a Sam’s club in Joplin, Missouri.
* Using a false invoice to receive a check for $3,100 that was cashed for his personal use.
* Filing a false tax return.
Oh, by the way, did you know that this loser also received a $3 million bonus, and holds $20 million in Wal-Mart stock?
Hat tip, Holly.