Friday, May 16, 2008
PurchasePro founder Charles E. Johnson Jr. was found guilty of stock fraud and obstruction of justice after a federal court found he misled investors by inflating revenues at the software company in 2001. In his opinion the judge relied on the testimony of two convicted PurchasePro executives, which he found credible. In addition to stock fraud charges, Johnson was found to have fabricated emails to support his defense. WPost, Ex-PurchasePro Chief Found Guilty of Fraud, Obstruction.