John Bohan
John Bohan (December 21, 1964) is the Founder of both L90, an internet advertising company, and Socialtyze, a social media marketing & technology company. He is currently CEO of the latter.
Founding of L90[edit]
In 1997, Bohan started the internet advertising company L90, and by 2000, it was a public company on NASDAQ[1] with a $500mm valuation[2] and over $50mm in annual gross revenue. In 2001, Bohan sold the company's ad serving division, adMonitor, to DoubleClick.[3]
Founding of Socialtyze[edit]
In 2007, Bohan founded Socialtyze, a marketing and technology company based in Los Angeles that provides social marketing solutions for advertisers and ad agencies.[4]
Conviction for Fraud[edit]
In December 2005 Bohan was sentenced to 27 months in federal prison [5] for committing securities fraud.
Bohan pleaded guilty in March 2003 to a felony count of securities fraud, admitting that from June 2000 through March 2002 he participated in a scheme to generate fraudulent revenues for L90 through advertising barter transactions with other Internet companies in order to meet securities analysts' revenue estimates.
L90, through its subsidiary webMillion.com, had engaged in a series of advertising barter transactions with other Internet companies, swapped checks with those companies for the purported "value" of the bartered advertising, and fraudulently recorded those amounts as revenue without disclosing that they resulted from barter transactions. L90 frequently made use of a third party in order to hide the true nature of the barter transaction from its auditors and the investing public.[6][7]
Bohan helped conceive and organize the barter transactions used to fraudulently inflate L90's revenue numbers.[8] Bohan also helped to conceal the fraudulent nature of those transactions from L90's auditor and made false representations to the auditor about L90's financial statements. Bohan also signed L90's Form 10-K and Form 10-Q that were filed with the Securities and Exchange Commission, which contained false and misleading financial information.
References[edit]
- ↑ Anonymous (2000 (acc. March 19, 2014)). "L90 INC (LNTY) IPO". NASDAQ. Check date values in:
|date=(help) - ↑ B Stone, M Helft (February 3, 2008 (acc. March 19, 2014)). "Yahoo Sale Could Be Bad for Minnows". New York Times. Check date values in:
|date=(help) - ↑ B Tedeschi (July 1, 2002 (acc. March 19, 2014)). "DoubleClick Sells Its Media Sales Business to L90". New York Times. Check date values in:
|date=(help) - ↑ Anonymous (2012 (acc. March 18, 2014)). "Company". socialtyze.com. Check date values in:
|date=(help) - ↑ Anonymous (December 12, 2005 (acc. March 19, 2014)). "Former CEO of internet advertising firm sentenced to prison for role in financial fraud scheme". U.S. Department of Justice. Check date values in:
|date=(help) - ↑ Anonymous (April 24, 2003 (acc. March 18, 2014)). "Administrative Proceeding File No. 3-11090". U. S. Securities and Exchange Commission. line feed character in
|title=at position 26 (help); Check date values in:|date=(help) - ↑ Anonymous (April 24, 2003 (acc. March 19, 2014)). "Former L90 Executives to Plead Guilty". Los Angeles Times. Check date values in:
|date=(help) - ↑ Anonymous (April 23, 2003 (acc. March 19, 2014)). "SEC v. John C. Bohan et al., CV 03-2834 R (RNBx) (C.D. Cal.)". U. S. Securities and Exchange Commission. Check date values in:
|date=(help)
External links[edit]
- Socialtyze Homepage
- Department of Justice Report on Fraud Conviction
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