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Ex-Latex CEO Sentenced To Prison For Embezzlement

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BRIDGEPORT, Conn. (AP) _ The former chief executive of Latex International has been sentenced to nearly six years in prison for embezzling about $1.7 million from the Connecticut mattress manufacturer.

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

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

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

A co-defendant, former Latex executive Joanne Osmolik, was sentenced in April to four years for embezzling another $1.7 million.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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