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Software company Entellium's CEO, financial officer charged with wire fraud
Continue to the storyUsing the inflated revenue figures, the company was able to attract $50 million in private investments, including $19 million from Ignition, a Bellevue-based venture capital firm. Ignition's partners have said they never would have invested that much money had they known Entellium's actual earnings. The complaint alleges that in 2006 Johnston and Jones told Entellium's board of directors - which includes two Ignition partners - that the company had revenue of nearly $4 million.