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Latest Business News

Grand Jury Probing Wal-Mart Spending

Friday, April 22, 2005 4:34:00 PM
By CHUCK BARTELS

  Wal-Mart Stores Inc. vice-chairman Tom Coughlin is shown during the Wal-Mart shareholders' meeting in Fayetteville, Ark., in this June 6, 2003 photo.Wal-Mart Stores Inc said Friday April 22, 2005,  federal prosecutors have empaneled a grand jury to investigates former executiveThomasCoughlin. (AP Photo/April L. Brown, File)LITTLE ROCK, Ark. (AP) - A federal grand jury is reviewing allegations of misspending within Wal-Mart Stores Inc., an investigation triggered by the world's largest retailer when it voluntarily handed over internal documents to the Justice Department, a company spokesman said.

Wal-Mart spokesman Marty Heires told The Associated Press on Friday that the company is limited in what it can say about the inquiry because the probe is being handled by a grand jury.

"We have committed fully to cooperate with the federal authorities, and we're doing that," Heires said.


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