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Ex-CEO Of Latex Faces Sentencing For Embezzlement

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(credit: Jupiter Images)

(credit: Jupiter Images)

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BRIDGEPORT, Conn. (AP) — The former chief executive of Latex International is facing sentencing after pleading guilty to wire fraud and tax evasion related to embezzling about $1.7 million from the Shelton mattress manufacturer.

Kevin Coleman is scheduled to be sentenced Tuesday in U.S. District Court in Bridgeport.

The U.S. attorney’s office says 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.

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

Coleman’s attorney is seeking a sentence of no more than four years, saying Coleman promptly accepted responsibility for what he called self-indulgent and reckless behavior fueled by rampant alcohol and drug abuse.

Osmolik was sentenced to four years in prison.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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