On 28 January, the British Home Secretary Priti Patel signed the order for the extradition of Former Autonomy CEO Mike Lynch to the US, where he will face further court proceedings related to the case.
In 2011 Hewlett Packard purchased the UK based Autonomy Corp PLC. The deal went sour when HP sued two executives, CEO Mike Lynch, alongside Finance Director Sushovan Hussain, accusing them of falsifying the accounts.
The case started in 2015 when Former Autonomy CEO Mike Lynch, alongside Finance Director Sushovan Hussain, were named in a claim filed for $5.1 billion (€4.5 billion) in damages at the UK High Court in April 2015, after HP acquired Autonomy in 2011. In November 2012, HP wrote down its worth claiming that “accounting fraud and inflated financials” from Autonomy officials, including Lynch, were to blame.
In May 2019, the former Chief Financial Officer Sushovan Hussain was found guilty of fraud and sentenced to five years in jail.
According to Taipei Times, Lynch is looking to appeal the decision.
Tags: Hewlett Packard, Autonomy Corp PLC., Fraud, Crime