The Big Bog
01-31-2006, 05:05 PM
Seems there no shortage of stories like this in the news of late ...
Wal-Mart exec's five-finger discount
Despite $1 million salary, he admits taking liquor, trips, cash
Tuesday, January 31, 2006; Posted: 2:09 p.m. EST (19:09 GMT)
FORT SMITH, Arkansas (AP) -- A former Wal-Mart Stores Inc. vice chairman who was a protege of founder Sam Walton pleaded guilty to fraud and tax charges Tuesday, admitting that he stole money, gift cards and merchandise from the world's largest retailer.
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.
…
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 documents filed with the court, Coughlin specifically admitted defrauding the company to pay for the care of his hunting dogs, lease a private hunting area, upgrade his pickup truck, buy liquor and a cooler, and receive $3,100 in cash.
As the company vice chairman, Coughlin received a base salary of $1.03 million in his final year with the company.
A filing with the Securities and Exchange Commission last April said Coughlin also received $3.09 million in bonuses and other income in fiscal 2005. Coughlin held about $20 million in Wal-Mart stock, according to an SEC filing last February.
…
Nothing was mentioned in court about restitution.
Full story (http://www.cnn.com/2006/LAW/01/31/walmart.plea.ap/index.html)
What IS the deal with people like this? Why this galling obsession with wealth? Do they think they’re going to be able to take it all with them when they croak? Is that it? Are they that afraid of dying less than filthy stinking rich or something? Well here's a news flash: you enter the world with zip and you leave it with zip. Sorry but that's just the way the cookie crumbles.
Whatever happened to good old-fashioned care and concern for others in life? Some of that cash this guy stole could have gone toward some hard-working Wal-Mart employee’s health care instead of his damn hunting dogs and expensive booze.
So is this “scumbag”-worthy? Where’s jamesrage when you really need him???
Wal-Mart exec's five-finger discount
Despite $1 million salary, he admits taking liquor, trips, cash
Tuesday, January 31, 2006; Posted: 2:09 p.m. EST (19:09 GMT)
FORT SMITH, Arkansas (AP) -- A former Wal-Mart Stores Inc. vice chairman who was a protege of founder Sam Walton pleaded guilty to fraud and tax charges Tuesday, admitting that he stole money, gift cards and merchandise from the world's largest retailer.
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.
…
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 documents filed with the court, Coughlin specifically admitted defrauding the company to pay for the care of his hunting dogs, lease a private hunting area, upgrade his pickup truck, buy liquor and a cooler, and receive $3,100 in cash.
As the company vice chairman, Coughlin received a base salary of $1.03 million in his final year with the company.
A filing with the Securities and Exchange Commission last April said Coughlin also received $3.09 million in bonuses and other income in fiscal 2005. Coughlin held about $20 million in Wal-Mart stock, according to an SEC filing last February.
…
Nothing was mentioned in court about restitution.
Full story (http://www.cnn.com/2006/LAW/01/31/walmart.plea.ap/index.html)
What IS the deal with people like this? Why this galling obsession with wealth? Do they think they’re going to be able to take it all with them when they croak? Is that it? Are they that afraid of dying less than filthy stinking rich or something? Well here's a news flash: you enter the world with zip and you leave it with zip. Sorry but that's just the way the cookie crumbles.
Whatever happened to good old-fashioned care and concern for others in life? Some of that cash this guy stole could have gone toward some hard-working Wal-Mart employee’s health care instead of his damn hunting dogs and expensive booze.
So is this “scumbag”-worthy? Where’s jamesrage when you really need him???