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 The Associated Press.
How a Russian cyberwar in Ukraine could ripple out globally
Soldiers and tanks may care about national borders. Cyber doesn't.
Meet Altos Labs, Silicon Valley’s latest wild bet on living forever
Funders of a deep-pocketed new "rejuvenation" startup are said to include Jeff Bezos and Yuri Milner.
Meta’s new learning algorithm can teach AI to multi-task
The single technique for teaching neural networks multiple skills is a step towards general-purpose AI.
Going bald? Lab-grown hair cells could be on the way
These biotech companies are reprogramming cells to treat baldness, but it’s still early days.
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.