uk-tech-big-founder-mike-lynch-could-be-extradited-to-us

UK tech big founder Mike Lynch could be extradited to US

Mike Lynch leaves Excessive Courtroom in London 25 March 2019

The founding father of UK software program agency Autonomy could be extradited to the US to face fees of conspiracy and fraud, a London court docket has mentioned.

Mike Lynch bought Autonomy to US pc big Hewlett Packard (HP) for $8.4bn in 2011.

He denies allegations that he fraudulently inflated the worth of Autonomy earlier than the sale.

His lawyer, Chris Morvillo of Clifford Likelihood, mentioned Dr Lynch was dissatisfied by the ruling and would attraction.

  • Autonomy ex-finance boss sentenced to jail

  • Autonomy boss in ‘deliberate fraud’

Dr Lynch has been dealing with civil fees on the Excessive Courtroom in London, the place HP is suing him for damages over the deal. However individually, the US Division of Justice (DoJ) is pursuing felony fees in opposition to him.

Choose Michael Snow mentioned he would ship his ruling in that motion with out awaiting the civil verdict, saying it was “of restricted significance within the case”. Dr Lynch was launched on bail by the choose in London.

“Dr Lynch is dissatisfied that the court docket has dominated in opposition to him with out ready for the Excessive Courtroom’s judgement within the civil case that examined all these points,” mentioned Mr Morvillo.

“On the request of the US Division of Justice, the court docket has dominated {that a} British citizen who ran a British firm listed on the London Inventory Alternate ought to be extradited to America over allegations about his conduct within the UK.

“We are saying this case belongs within the UK. If the house secretary nonetheless decides to order extradition, Dr Lynch intends to attraction.”

‘Artificially inflated’

The UK’s Severe Fraud Workplace investigated the deal in 2013, earlier than dropping the case two years later due to “inadequate proof”.

Autonomy was based by Dr Lynch in 1996. It developed software program that might extract helpful data from “unstructured” sources of knowledge corresponding to phone-calls, emails or video, after which do issues corresponding to counsel solutions to a call-centre operator or monitor TV channels for phrases or topics.

Earlier than it was purchased by HP, it had headquarters in San Francisco and Cambridge within the UK.

In 2010, about 68% of Autonomy’s reported revenues got here from the US and elsewhere within the Americas.

HP and US prosecutors allege that Dr Lynch and different former Autonomy executives artificially inflated the software program firm’s revenues and earnings between 2009 and 2011, inflicting HP to overpay for the agency.

However Dr Lynch has argued that HP used the allegations to cowl up its personal mismanagement of Autonomy after the 2011 deal.

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