Former Aspen CEO gets probation in fraud case
boston.com | 11/14/08 | suspect: David McQuillin | victim: Aspen Technologies, Inc.
David McQuillin, former chief executive of Aspen Technology Inc., of Burlington, was sentenced to three years' probation and a $12,000 fine in a federal court in New York after he pleaded guilty to conspiracy and securities fraud.
He was charged with falsifying the 2001 and 2002 revenue of Aspen, which makes software for managing chemical processes. McQuillin and Aspen's founder and chairman, Lawrence Evans, also settled civil fraud charges filed by the Securities and Exchange Commission. McQuillin has been ordered to pay an $85,000 civil penalty plus $28,381.61 in disgorgement and interest and is barred from serving as an officer or director of any public company. Evans must pay a $75,000 civil penalty and $21,478.01 in disgorgement and interest.