According to the bankruptcy filings by Entellium, previously laid-off workers are listed as creditors. Um-hum. The remaining employees, much maligned by some of those laid-off back in October, persevered through uncertainties to negotiate an asset sale of the spiraling company. If successful, that sale to Intuit will raise money to pay Entellium’s creditors. This [...]
Posts Tagged ‘Entellium’
Entellium Lists Laid-off Workers As Creditors in Bankruptcy Filings
Posted in business, tagged Entellium, Entellium bankruptcy filings, jonathan roberts, Jonathan Roberts does the right thing, Parrish Jones, Paul Johnston, Personal Integrity on December 4, 2008 | Leave a Comment »
Jonathan Roberts Cleaning Up the Entellium Mess, But How Far Will He Go?
Posted in business, tagged Entellium, Entellium bankruptcy, entellium employees, Ignition Partners, jonathan roberts, leif jenzen, Parrish Jones, Paul Johnston, retention bonuses, severance packages on December 3, 2008 | 1 Comment »
Meet Jonathan Roberts, a venture capitalist at Ignition Partners and board member of Entellium. Previously, I blogged about the arrest of two former Entellium executives for cooking the company books and deceptively raising nearly $50 million in venture money. Paul Johnston, the former CEO, remains in jail. Parrish Jones, the former CFO, has been [...]
Entellium Executives’ Indictment A Rude Awakening for US All
Posted in business, entrepreneur, tagged Entellium, Entellium executives indicted, Ignition Partners, Parish Jones, Parrish Jones, Paul Johnston, Personal Integrity, Seattle entrepreneur community, unbridled greed on October 8, 2008 | 5 Comments »
Meet Paul Johnston (CEO) and Parrish Jones (CFO), two former Entellium executives who have been indicted with wire fraud yesterday. The criminal complaint says that the company executives devised a scheme to defraud investors by overstating revenues. The government alleges that actual 2006 revenues were $582,789 but the pair inflated the revenues to nearly $4 million; actual [...]
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