ALEXANDRIA, Va. (AP) - A one time dot-com billionaire from Las
Vegas has been sentenced to nine years in prison for defrauding
investors in his software company in 2001.
Prosecutors had sought a much longer sentence for Charles
"Junior" Johnson, founder and CEO of the now-defunct PurchasePro.
Johnson was the ringleader of a scheme to falsely inflate
PurchasePro's revenue in the first three months of 2001, as the
high-tech economy was in freefall.
Seven people were convicted in the long-running investigation,
which also exposed improper accounting practices at America Online,
which had been PurchasePro's business partner.
(Copyright 2008 by The Associated Press. All Rights Reserved.)