The agreement with HP – The charges against him and his acquittal – His prophetic statements to the BBC
British entrepreneur Mike Lynch, who has been missing since the sinking of his luxury yacht off the coast of Sicily, operates 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 BBC.
The agreement with HP
The success of his company led to its sale to computer giant Hewlett-Packard for $11 billion in 2011, a deal that netted Lynch $647 million.
However, the acquisition soon fell apart as the enormous price tag was questioned.
Just a year later, HP recorded the value of Autonomy at $8.8 billion, stating that Lynch had inflated its value.
The charges against him and his acquittal
Years of legal battles followed, culminating when U.S. prosecutors charged Lynch in 2018.
Prosecutors accused him of inflating the company’s value using accounting tricks to mislead about its sales, adding that he concealed the company’s money-losing activities related to hardware resale 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’m sitting here, let’s be honest, is not just because I was innocent… but because I had enough money not to be taken down by a process designed to destroy you.”
Source: skai.gr
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