29 jan 2022 om 00:40 | Update: 6 maanden geleden
Britain agrees to extradite tech entrepreneur Mike Lynch to the United States. Lynch allegedly provided false information about the value of his data company Autonomy before selling the company to Hewlett Packard.
By: NU.nl/ANPThe US has been pushing for his extradition for some time, as the country wants to sue him for accounting fraud. A judge in London ruled last summer that Lynch could be transferred to the US.
Just because the British government has approved his extradition doesn’t mean Lynch will be on board any time soon. He can still appeal. Lynch himself turned himself in to British police in early 2020, after a warrant for his arrest was issued.
Hardware and software company Hewlett Packard took over British Autonomy from founder Lynch in August 2011 for an estimated $11 billion (nearly 9.9 billion euros). However, in the fall of 2012, write-offs of nearly $9 billion had to be made on the purchased parts. According to the American group, Autonomy has spoiled the books to come across as attractive prey for takeovers. More than $5 billion of those write-offs are said to be related to accounting fraud.
Hewlett Packard, which split into two separate companies in 2015, is seeking $5 billion in damages. Justice in the US has charged Lynch with various types of fraud and criminal conspiracy.
“Coffee trailblazer. Analyst. General music geek. Bacon maven. Devoted organizer. Incurable internet ninja. Entrepreneur.”
