fraud

• Prosecutor: CEO used Entellium as ‘piggy bank’
  mohit
  Oct 14 2008
  

  If there was not enough drama already... Note: I think it is jumping the gun a bit suggest the $9.6MM went to a "piggy bank". This equates to $200,000 per month which is potentially a reasonable amount to operate the Malaysia office.

  Quoted: Investigators have not been able to account for about $9.6 million in Entellium funds that were believed to be transferred to the company’s operations in Malaysia between 2005 and 2008, a federal prosecutor told U.S. Magistrate Judge Mary Alice Theiler during the hearing in U.S. District Court in Seattle.
  ...
  Johnston, a 40-year-old citizen of the United Kingdom who earned $1.1 million in salary and bonuses between 2004 and 2008, also was given $100,000 in loans from the company without the board’s knowledge or approval, said Carl Blackstone, the assistant U.S. attorney prosecuting the case.

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