Former finance chief of autonomy sentenced to imprisonment for fraud at HP

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The former chief financial officer of Autonomy has been sentenced to five years in prison for fraud, in connection with the sale of $ 11 billion from the British software company to Hewlett Packard.

British citizen Sushovan Hussain risks US jail after being convicted last year of 16 counts of securities fraud and wire fraud.

HP has reduced the value of autonomy by $ 8.8 billion a year after buying it because of "serious accounting irregularities."

Mr. Hussain was also fined $ 4 million and an additional $ 6.1 million in confiscation.

HP claims that Autonomy inflated its revenues and that a court found that Mr. Hussain had made false statements to investors about the company before the deal in 2011.

Judge Charles Breyer stated that in his capacity as Chief Financial Officer, Mr. Hussain had "corrupted a number of innocent people" and "could lead subordinates to [him] commit these types of offenses ".

When sentenced to a San Francisco court on Monday, Mr. Hussain said, "My family has suffered so much but its support is flawless.I am deeply sorry for the pain and suffering that I have caused them. I hope to be worthy of their compassion. "

His lawyers said that they would appeal the conviction.

Hussain is also sued in the UK by HP, as well as Autonomy founder Mike Lynch, for $ 5 billion, on the grounds that they allegedly "committed willful fraud over an extended period" to inflate artificially the value of the company.

Hussain and Lynch both denied the allegations.

Mr. Lynch is claiming at least $ 125 million in damages from HP for making "a series of false, misleading and unfair public statements".