Former Aspen Tech Chief Faces Fraud Charges

Law360, New York (January 9, 2007, 12:00 AM EST) -- A former CEO of Aspen Technology has been charged with accounting fraud in a scam to artificially inflate the company’s revenues to meet targets and earn a promotion.

David McQuillin pled not guilty to allegations he conspired with colleagues to manipulate revenues reported to the public in a winning bid to become the software company’s next chief.

McQuillin, of Sudbury, Massachusetts, surrendered Monday to face one count of securities fraud and one count of conspiracy to commit securities fraud.

Securities fraud carries a maximum penalty of...
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