August Hearing Set for Former Wal-Mart Exec

Bentonville, Ark. Wal-Mart Stores announced Tuesday that a hearing has been set for Aug. 22 over whether convicted former Wal-Mart executive Tom Coughlin is entitled to his retirement package valued at up to $15 million.

Coughlin, who was convicted of embezzling from Wal-Mart, 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.

Wal-Mart also denied Coughlin’s claims that the company committed a tort of outrage, causing him mental anguish.

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