US Seeks Extradition of Michael Lynch, Once Dubbed as Britain’s Bill Gates
IndraStra Global

US Seeks Extradition of Michael Lynch, Once Dubbed as Britain’s Bill Gates

By IndraStra Global News Team

US Seeks Extradition of Michael Lynch, Once Dubbed as Britain’s Bill Gates

As per the latest court filings dated December 1, 2019, the  U.S. Embassy in London has formally submitted the request for the extradition of Autonomy founder and former Chief Executive Officer Michael Lynch on November 21. 

Lynch, once dubbed as Britain’s Bill Gates, sold his company to Hewlett Packard (HP), now Hewlett Packard Enterprise (HPE) in an ill-fated US$ 11.1 billion deal (2012), to face charges including securities fraud, wire fraud, and conspiracy. He is currently battling the HPE in London’s High Court for overstating Autonomy’s performance ahead of the acquisition.

According to Duncan Riley of SiliconANGLE, "Autonomy was purchased by HP as part of its then plan to split the company in two, spinning off its computer business into a separate company with the remaining business eventually becoming Hewlett Packard Enterprise Co."

HP is seeking damages of US $5 billion from Lynch and his former chief financial officer, Sushovan Hussain, alleging that they inflated the value of their data firm before selling it. Lynch has denied the accusations, saying HP mismanaged the acquisition. He is countersuing for loss and damages.

Lynch has been indicted in San Francisco on 17 counts, including wire fraud, conspiracy and securities fraud, which carries a maximum term of 25 years in prison. A spokesman for Lynch said at the time that the charges were “baseless and egregious.”

Hussain was sentenced in San Francisco in May to five years in prison, fined US$ 4 million and ordered to forfeit US$ 6.1 million after being convicted on 16 counts of wire fraud, securities fraud, and conspiracy.