The agreement with HP – The charges against him and his acquittal – His prophetic statements to the BBC
The British businessman Mike Lynch, who is missing after the sinking of a luxury yacht off the coast of Sicily, is active in the IT sector.
Lynch co-founded the software company Autonomy in Cambridge in 1996, which quickly expanded and became one of the leading technology companies in the UK, according to the BBC.
The agreement with HP
The success of his company led to its sale to the computing giant Hewlett-Packard for 11 billion dollars in 2011, a deal that brought Lynch 647 million dollars.
However, the acquisition soon unraveled, as the enormous price was questioned.
Just a year later, HP recorded the value of Autonomy at 8.8 billion dollars, stating that Lynch had exaggerated its value.
The charges against him and his acquittal
Years of legal battles followed, culminating when U.S. prosecutors charged Lynch in 2018.
The prosecutors accused him of inflating the company’s value using backdated agreements to mislead about its sales, adding that he concealed the loss-making activity of the business concerning the resale of hardware and also accused him of intimidating or firing individuals who expressed concerns.
However, he was eventually extradited to the U.S. in 2022 to stand trial, a process that concluded in June with his acquittal.
In an interview with the BBC earlier this month, Lynch stated: “The reason I am sitting here, let’s be honest, is not just because I was innocent… but because I had enough money not to be dragged into a process intended to destroy you.”
Source: skai.gr
Read the News today and stay updated on the latest updates.
Follow Skai.gr on Google News and be the first to know all the news.