Ex-Wal-Mart executive avoids prison

[ProSense]

Sunday, February 3, 2008

Ex-Wal-Mart executive avoids prison

By Marcus Kabel THE ASSOCIATED PRESS

FORT SMITH, Ark.— A former Wal-Mart executive avoided a prison term Friday when a federal judge re-sentenced him for tax evasion and fraud convictions.

The judge added only 1,500 hours of community service to Tom Coughlin’s punishment, and Coughlin said he was grateful.

“Judge, I just want to thank you for your fairness,” he said.

In 2006, U.S. District Judge Robert Dawson had sentenced Coughlin to 27 months of home detention, five years’ probation, a $50,000 fine and $400,000 restitution.

In an appeal by federal prosecutors, the 8th U.S. Circuit Court of Appeals last year said the sentence was too lenient and sent the case back to Dawson.

During the re-sentencing, the judge said Coughlin, 58, had a history of community service, no criminal record and has medical problems. Dawson promised a 30-page sentencing memorandum elaborating on his reasoning.

Formerly the No. 2 executive at Wal-Mart, Coughlin was accused of stealing gift cards and having the Bentonville-based company cover the cost of other items, for a total loss that Wal-Mart estimated at about $500,000. Officials say Coughlin has paid his fine and restitution.

In January 2006, Coughlin pleaded guilty to wire fraud and tax evasion. He faced a possible sentence of more than 28 years in prison and fines of $1.35 million.

Tom Coughlin (Wal-Mart)

[louis-t]

1. #2 executive at Wal-Mart? What was his salary? Bonuses?

And he still stole half a million? Does Wal-Mart have a requirement that they only hire greedy sick bastards as executives?

edit: Spelling, Lou, spelling....