US prosecutors are charging three more indictments against former Chief of Autonomy, Mike Lynch, for more than US $ 11 billion odd. • The register

US prosecutors have brought three new criminal charges against former executive director of autonomy, Mike Lynch, accusing him of security fraud and misdirection. press regarding the acquisition of his company by HP.

Lynch, once dubbed Britain's answer to Bill Gates, flagged Autonomy, a software company he founded, to the US tech giant in 2011 for $ 11 billion. A year later, HP was forced to save $ 8.8 billion as a result of this biz gobble, claiming that the British upstart had recently "falsely expressed" its value.

Hewlett-Packard Enterprise is now suing Sushovan Hussain, Chief Financial Officer of Lynch and Autonomy, in England, and is seeking $ 5 billion in damages for this debacle.

This trial in the High Court is scheduled to begin in London next Monday and take place throughout the year. Both men deny any wrongdoing.

In 2018, Hussain was found guilty of wire fraud and other crimes related to the acquisition by a US criminal court. He is about to be sentenced. We understand that he intends to appeal immediately.

In the USA

Meanwhile, in the United States, prosecutors are preparing a criminal case against Lynch and Stephen Chamberlain, one of the founders of Autonomy, following the acquisition of HP.

Last November, Lynch and Chamberlain were formally charged with fraud in California. Specifically, they are charged with one count of conspiracy to commit wire fraud and 13 counts of wire fraud.

In short, it is alleged that the pair inflated Autonomy's sales figures to meet quarterly targets in order to pocket large bonuses related to performance, and fraudulently introduced the company as a lucrative operation in the perspective of HP, which engulfed it.

Friday of this week, in a revised indictment [PDF]Lynch and Chamberlain have also been charged with wire fraud and conspiracy. Lynch has also been charged with securities fraud, which can lead you up to 25 years in the event of a conviction, bringing to 17 and 16 the total number of charges against him for Chamberlain.

Both men deny any wrongdoing. It is understood that the US authorities hope to extradite Lynch, at least in the United States, to be tried. ®

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