Osmolik Sentenced in Latex International Case

April 26, 2012  by in UnCategorized   

By Home Furnishings Business in Legal on April 27, 2012

Former Latex International human resources head Joanne Osmolick has been sentenced to four years in federal prison for embezzling more than $1.75 million.

Former CEO Kevin Coleman, who with Osmolik stole around $3.5 million from the company by using a company credit card for personal expenses, and who pled guilty to wire fraud and tax evasion earlier this year, awaits sentencing.

Osmolik pleaded guilty in December to stealing more than $1.75 million from the company.

"Osmolik and her co-conspirator recklessly pillaged Latex International purely for their own benefit, while having no regard for the employees, customers and shareholders of our company who suffered as a result of their actions," said Dave Fisher, president and CEO of Latex International, Shelton, Conn. "It has taken the new management team several years to pull itself out of the painful financial morass that these criminals caused our company. We are pleased they have finally been brought to justice. I am very grateful for the diligent efforts of the U.S. Attorney, Federal Bureau of Investigation and the Internal Revenue Service for all their assistance throughout this process."