Former Aspen exec gets probation, fine for fraud

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 pleading guilty to conspiracy and securities fraud.

McQuillin was charged with falsifying the 2001 and 2002 revenue of Aspen, which makes software for managing chemical processes.

McQuillin and Aspen founder and chairman Lawrence Evans also settled civil fraud charges filed by the US Securities and Exchange Commission. McQuillin has been ordered to pay an $85,000 civil penalty, $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.

No settlement has been reached with former Aspen chief financial officer Lisa Zappala, cq who is also charged with civil fraud in the case.
(By Hiawatha Bray, Globe staff)