Former Wal-Mart exec Coughlin resentencing on hold

NEW YORK, Nov 23 (Reuters) - The re-sentencing of former Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) Vice Chairman Thomas Coughlin is being put on hold until after a U.S. Supreme Court decision, according to a letter filed in court and signed by U.S Attorney Robert Balfe.

Coughlin, was sentenced to 27 months of home confinement after admitting to stealing thousands of dollars from the company and pleading guilty in January to wire fraud and tax evasion.

But the U.S. Eighth Circuit Court of Appeals ruled in August that the prior sentence was too light and ordered a U.S. District judge in Fort Smith, Arkansas, to come up with a new sentence for Coughlin.

Balfe, U.S. Attorney for the Western District of Arkansas, agreed this month with Coughlin's lawyers to continue the case until the Supreme Court issues its ruling in another case, Gall versus the United States.

That case could provide guidance on issues expected to be raised in the Coughlin re-sentencing, according to the letter filed at the U.S. District Court for the Western District of Arkansas on November 15.

Coughlin, who joined Wal-Mart in 1978 and worked closely with legendary founder Sam Walton, had originally faced up to 28 years in prison and $1.35 million in fines but was given a lighter sentence amid concerns. (Reporting by Sinead Carew; editing by Carol Bishopric)