Ex-Wal-Mart Exec Is Expected to Plead Guilty

Former Wal-Mart Stores Inc. Vice Chairman Thomas Coughlin will plead guilty to federal wire fraud and tax evasion charges this month, the Wall Street Journal reported Friday on its website.

Coughlin left the board of the Bentonville, Ark.-based retailer in March amid allegations that he misappropriated as much as $500,000 through improper reimbursements and use of company gift cards.

Wal-Mart had said that Coughlin resigned at its request, based on the findings of its own investigation, and that it reported the matter to the U.S. attorney for the Western District of Arkansas.

The Journal, citing people familiar with the matter, said Coughlin could face more than two years in prison under terms of a settlement with federal prosecutors. Calls to Wal-Mart and Coughlin’s lawyers were not returned.

Also Friday, a former buyer for Wal-Mart pleaded guilty in U.S. District Court in Arkansas to taking $150,000 to steer business to a New York company that licenses Sesame Street products.