Entellium chief executive pleads guilty to fraud
Paul Johnston, former chief executive of management software provider Entellium, has pled guilty to wire fraud. He is expected to serve three to six years in prison for egregiously fabricating the company’s earning figures to lure more venture capital.
Seattle-based Entellium officially filed for bankruptcy earlier this month and is in the middle of selling its assets to Intuit for a reported $7.66 million.
Johnston resigned from the company at the end of September, along with former chief financial officer Parrish Jones, who is also charged with wire fraud. Jones has yet to enter a plea.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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