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.)
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.