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© Reuters. FILE PHOTO: British entrepreneur Mike Lynch arrives at Westminster Magistrates Court docket in London, Britain, February 12, 2021. REUTERS/Toby Melville
By Sarah Younger
LONDON (Reuters) -Mike Lynch has been extradited to america to face prison fees over Hewlett Packard’s $11 billion acquisition of his software program firm Autonomy, a dramatic fall from grace for a person as soon as hailed as Britain’s most profitable tech chief.
Britain’s inside ministry mentioned on Friday that Lynch had been extradited on Could 11.
Lynch – the co-founder of Autonomy – faces 17 fees over the 2011 takeover in america.
He denies any wrongdoing and had fought the extradition proceedings within the British courts, arguing he needs to be prosecuted in Britain, however on April 21, the Excessive Court docket refused him permission to enchantment.
“Dr Lynch was extradited to the US on 11 Could,” a spokesperson for Britain’s Dwelling Workplace, or inside ministry, mentioned.
As soon as seen as Britain’s reply to Invoice Gates, Lynch, 57, might now face 20 years in jail within the U.S.
Earlier than the HP (NYSE:) deal, he had been lauded by teachers and scientists, and requested to advise the British authorities on know-how and innovation, after he grew Autonomy into Britain’s largest software program firm from his ground-breaking analysis at Cambridge College.
His extradition follows a close to decade-long authorized battle after HP’s takeover of Autonomy twelve years in the past rapidly soured.
Inside a yr of shopping for Autonomy, HP wrote down the worth of the deal by $8.8 billion and introduced a civil lawsuit in London in opposition to Lynch and Autonomy’s former chief monetary officer Sushovan Hussain.
The Silicon Valley firm “considerably succeeded” in its lawsuit, a decide mentioned in January 2022.
Hussain was convicted of fraud in america and sentenced to 5 years in jail in 2019.
Lynch had mentioned HP didn’t know what it was doing, and was out of its depth in understanding his know-how.
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