Ex-Entellium Execs Charged With Fraud By Feds
Entellium’s former CEO, Paul Thomas Johnston, and former CFO Parrish L. Jones, have been arrested and charged with wire fraud, according to this story in the Associated Press. The fraud was uncovered late last month when an employee found evidence that Entellium, a Seattle software company, inflated its revenues to attract investors, according to the U.S. Attorney’s Office. Both Johnson and Jones were scheduled to make appearances in U.S. District Court this afternoon, the AP said. Venture capital reporter John Cook notes on a blog that Seattle-based Ignition Partners, Sigma Partners (which has offices in Boston and California), and others invested $50 million in the company.