You would think that a company would not have to give a $15 million retirement package to someone convicted of embezzling money from it, but that is not the way things work in our society.
Arkansas Business Report says an Aug. 22 hearing has been scheduled to see if former Wal-Mart executive Tom Coughlin will receive retirement benefits:
Coughlin, who was convicted of embezzling from the world's largest retailer, filed a counterclaim against Wal-Mart, accusing the company of conducting a "witch hunt" against him. Coughlin, the former vice chairman of Wal-Mart Stores Inc., was sentenced to 27 months of home detention, plus 1,500 hours of community service. He also had to pay $400,000 in restitution.
In a response to Coughlin's counterclaim, Wal-Mart says the former executive is not entitled to his retirement package because he defrauded the company. Coughlin pleaded guilty in 2006 to five counts of wire fraud and one count of tax evasion.
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