Friday, August 22, 2008

Crime pays: Wal-Mart settles with embezzler for $6.7 million

Who says crime doesn't pay?

According to an article in Arkansas Business Report, Wal-Mart has settled a lawsuit with former company official Tom Coughlin for $6.75 million.

This is the same Tom Coughlin who pleaded guilty to embezzling between $12 million and $16 million from the company...and then sued for retirement benefits:

Wal-Mart filed a report to the U.S. Securities and Exchange Commission late Thursday afternoon saying Coughlin agreed to forgo the remainder of a retirement package valued at $17 million.

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