Ex-CEO Of Latex Pleads Guilty In Embezzlement Case

SHELTON, Conn. (AP) — Federal prosecutors say the former chief executive of Latex International has pleaded guilty to wire fraud and tax evasion related to his embezzlement of about $1.7 million from the Shelton mattress and pillow manufacturer.

The U.S. attorney's office says Kevin Coleman, of Waseca, Minn., and Joanne Osmolik, who was vice president for human resources, embezzled more than $3.4 million in corporate money for personal expenses. The 51-year-old Coleman entered his plea Monday in federal court in Bridgeport.

Authorities say he used a corporate credit card at a Minnesota jeweler, Harley-Davidson and other merchants.

Dave Fisher, president and CEO of Latex, said mandatory federal restitution laws will help the company recover some of the money.

Osmolik pleaded guilty to wire fraud in December in the embezzlement of more than $1.5 million.

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