Mike Lynch to be extradited to U.S. in HP fraud case

3 months ago

Mike Lynch, erstwhile CEO of Autonomy.

Hollie Adams | Bloomberg via Getty Images

LONDON — British tech entrepreneur Mike Lynch is acceptable to beryllium extradited to the United States to look transgression charges related to the merchantability of his institution Autonomy to Hewlett-Packard, aft a ruling made by U.K. interior curate Priti Patel.

Lynch sold his bundle start-up Autonomy to Hewlett Packard successful 2011 for $11.7 billion.

One twelvemonth later, HP announced an $8.8 cardinal writedown connected the company, claiming that "accounting irregularities" led it to wage excessively overmuch for the firm.

Earlier Friday, a British justice ruled successful favour of HP successful a civilian lawsuit against Lynch implicit claims helium plotted to inflate the worth of Autonomy earlier it was bought by HP.

HP won the bulk of the charges, Justice Robert Hildyard said, though the damages would beryllium importantly little than the $5 cardinal sought by the company.

On Friday, the U.K. Home Office said it had decided to o.k. U S. demands to person Lynch extradited. Patel had until midnight to marque the decision. Lynch, who denies the allegations, tin entreaty the ruling.