Wal-Mart Says Fired Exec Was In on Scheme
Wal-Mart Stores Inc. says a former executive who claims he deserves to be protected as a whistle-blower was part of a scheme to defraud the company and deserves no such protection.
Former Wal-Mart Vice President Jared Bowen has asked the U.S. attorney’s office in Fort Smith, Ark., to declare that he deserves whistle-blower status. Bowen claims that he refused to approve certain expenses submitted by former Wal-Mart Vice Chairman Tom Coughlin.
Coughlin’s departure from the board in March came as Wal-Mart said it was giving prosecutors evidence of up to $500,000 in misspent money. A federal grand jury is investigating.
Wal-Mart spokeswoman Mona Williams said Friday that Bowen had not been forthcoming with company executives when they looked into the spending.
“He admitted during interviews he had approved transactions that violated company policy and then remained silent for months rather than step forward,” Williams said.
Another employee alerted the company that Coughlin was allegedly using Wal-Mart gift cards improperly, Williams said.
Coughlin, through his attorney, has denied wrongdoing.
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