Link Express Founder Guilty of Fraud, Money Laundering, Perjury
Paul R. Johnson, who founded the now-defunct Link Express Delivery Services in 1997 to challenge UPS and FedEx, could face $1 million in fines and at least 20 years in prison when sentenced in January for looting the company he started.
A West Palm Beach federal court jury on Friday found Johnson guilty on all 28 counts of securities fraud, money laundering and perjury. David J. Joffe, Johnson’s lawyer, said he would appeal the decision.
The jury agreed with prosecutors that Johnson defrauded 400 people who invested $18.9 million in his business by spending almost $6 million on personal expenses including a South Beach nightclub, bodyguards, gambling debts and a friend's breast enhancement surgery. Johnson also gave at least $700,000 to his mother.