Ex-PurchasePro CEO Found Guilty Of Securities Fraud

Law360, New York (May 16, 2008, 12:00 AM EDT) -- The former CEO of PurchasePro.com Inc. has been found guilty of securities fraud and obstruction of justice for his role in an alleged scheme to inflate revenues at the now-defunct Las Vegas Internet software company.

Charles E. Johnson Jr., 47, of Las Vegas could be sentenced to up to 20 years in prison for allegedly duping investors about the company's revenues from the first quarter of 2001, including revenue generated for America Online Inc.

U.S. District Judge Walter D. Kelley Jr. of the Eastern District of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.