British IT tycoon Mike Lynch is running out of options to avoid extradition to the United States. He is accused of fraud, in connection with the sale of his company Autonomy to HP in 2011 for an amount of 11 billion dollars.
The High Court in London has just rejected his request to quash his extradition. This extradition had been decided in January 2022 by Priti Patel, then Minister of the Interior of the United Kingdom.
Mike Lynch has denied the charges for years. According to him, the pressure exerted by the United States to extradite him from the United Kingdom constitutes an excess of legal power.
However, the High Court does not see it that way, as the alleged criminal acts took place in the United States. Indeed, HP and its investors believe that Autonomy’s value has been overstated and that the company was worth billions less than the price paid by the Silicon Valley giant. As a reminder, HP executives accused Mike Lynch of lying about Autonomy’s business and falsifying accounts. HP sold Autonomy’s software business to Micro Focus six years later, in 2017.
Former Autonomy chief financial officer Sushovan Hussain is currently serving a five-year sentence in the United States after being convicted of fraud in 2019.
To avoid a similar fate, Mike Lynch may seek a final appeal to the European Court of Human Rights (ECHR), according to The Register.
2023-04-24 11:33:36
#Autonomys #Mike #Lynch #Loses #Battle #Extradition #ChannelNews
