Mike Lynch is accused of overinflating the value of his firm Autonomy when he sold it to Hewlett-Packard.
British tech entrepreneur Mike Lynch has been extradited to the US to face criminal charges over the $11bn sale of his firm Autonomy to Hewlett-Packard.
According to US court documents, Mr Lynch has been ordered to pay bail of $100m with authorities claiming he is a "serious risk of flight" following his years of fighting extradition. HP was primarily known as a technology hardware company and buying Autonomy was aimed at diversifying its business. Hussain was jailed for five years and fined millions of dollars in 2019 on 16 counts of fraud, securities fraud and other charges.The company was founded in 1996 by Mr Lynch out of a specialist software research group called Cambridge Neurodynamics.
It gained a listing on the US Nasdaq exchange in May 2000 at the height of the technology boom and was listed in London six months later.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Autonomy founder Mike Lynch extradited to US\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
British businessman Lynch extradited to US weeks after losing appealMike Lynch, the British software tycoon, has been extradited to the US weeks after losing a long-running legal battle against the move. Conservative MP David Davis MP has criticised the process. 📺 Sky 501, Virgin 602, Freeview 233 and YouTube
Read more »
Hewlett-Packard hit with complaints after disabling printers that use rival firms’ ink cartridgesHewlett-Packard has prompted an onslaught of complaints after disabling printers of customers who try to use ink from rival companies.
Read more »
Boxing's weakest chins and glass jaws as exposed by Mike Tyson and Floyd MayweatherWeak chin, glass jaw, chinny: some of the most hurtful labels fans place upon a boxer – but unfortunately these otherwise elite fighters were all let down by their punch resistance. Not every boxer…
Read more »
Much Wenlock potter diversifies to combat soaring costsMike Fletcher, from Wenlock Pottery, is given a grant to become an 'arts centre'.
Read more »