From the Arkansas Democrat-Gazette comes the latest in the Tom Coughlin story:

A grand jury convened here this week to consider a federal fraud indictment against former Wal-Mart Vice Chairman Thomas Coughlin.

From Tuesday through Thursday evening, the grand jury called a string of witnesses to testify, including a fired Wal-Mart executive, a former union organizer and Wal-Mart’s current chief diversity officer.

The event marks a step forward in criminal proceedings against Coughlin, whom Wal-Mart accuses of stealing about $400,000 in company funds over more than a decade when he was an executive at the world’s biggest corporation.

Wal-Mart alleges that Coughlin used a small and loyal group of subordinates to take money from the firm by using company gift cards and submitting phony invoices.

Through attorneys, Coughlin has denied any wrongdoing. Neither Coughlin nor his attorneys were seen at the courthouse during the week. Coughlin attorney Blair Brown did not return a message seeking comment Friday.