Mike Lynch was only recently cleared of fraud charges in a landmark trial. Now, in a shock turn of events, he's gone missing after the sinking of a superyacht.
He was accused by Hewlett Packard of working to artificially inflate the value of his company Autonomy when he sold it to the U.S. tech giant for $11.7 billion in 2011.
The yacht, called the Bayesian, capsized at around 4 a.m. local time while anchored off the coast of Porticello, a small fishing village located in the province of Palermo in Italy. It was struck by an unexpectedly violent storm, according to local media reports. Prosecutors had alleged Lynch, along with Autonomy's now-deceased finance executive Chamberlain, padded Autonomy's finances in a number of ways.
Toward the end of the 1980s, Lynch founded Lynett Systems Ltd., a firm which produced designs and audio products for the music industry.
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