Ex-Conn. Latex CEO gets prison for embezzlement

AP News
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Posted: Jul 10, 2012 7:46 PM
Ex-Conn. Latex CEO gets prison for embezzlement

BRIDGEPORT, Conn. (AP) — A former chief executive of Connecticut mattress manufacturer Latex International who embezzled about $1.7 million has been sentenced to nearly six years in prison.

Waseca, Minn., resident Kevin Coleman was sentenced Tuesday in federal court in Bridgeport to 70 months in prison. He pleaded guilty to wire fraud and tax evasion in February. He was ordered to repay Latex and to pay more than $1.3 million in back taxes.

Prosecutors say Coleman "pillaged" Latex to pay for a lifestyle including thousands of dollars in jewelry for himself, his wife and his London mistress.

Coleman's attorney asked for a sentence of no more than four years, saying Coleman accepted responsibility for behavior fueled by alcohol and drug abuse.

Another former Latex executive was sentenced in April to four years for embezzling $1.7 million.