Former Aspen Execs Indicted...

By now, most of you have heard the news that Larry Evans, David McQuillin and Lisa Zappala – all former AspenTech execs – have been indicted by the SEC on charges of accounting fraud, carrying a maximum penalty of $5million and 25 years in prison.

Apparently, the defendants engaged in a scheme to inflate revenue reported in AspenTech's publicly-filed financial statements and in press releases – click here for details.

This is (obviously) not good and the SEC doesn’t think so either.

Most Aspen watchers that I talked to are not surprised though – I guess it was pretty obvious that something was going wrong while Mr. McQuillin was in charge, leading to his dismissal by the board back in late 2004.

So why bring this up?

Because honesty, integrity and sound financial practices are values that are high on the PAS list, even though not all companies in our space may choose these.

I pride myself on our company values and trust that our customers do too.

In fact, if any of you – employees, partners, customers or other blog-readers, ever discover anything untoward in any PAS dealing, I want to hear about it. 

My mission is to run a company that is squeaky clean.

A company where employees of all faiths can hold their heads up high, to build reputations as honest professionals seeking to honor the commitments we make to all our customers and partners.

A place where we have nothing to hide.

A place where our kids may one day work.

May you and your company aspire to like-minded values.

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