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The United States has filed a lawsuit against Mike Lynch, one of the UK's top technology executives and investors, for selling the UK software company Autonomy to Hewlett-Packard seven years ago.
The charges, which carry a maximum sentence of 20 years of imprisonment, include 14 counts of conspiracy and fraud. The United States also attempted to force Mr. Lynch to lose $ 815 million in gains from the sale of autonomy.
The Department of Justice case, which was filed Thursday in federal court in San Francisco, concludes a six-year investigation into one of the largest alleged corporate fraud cases in recent years. He also appoints Stephen Chamberlain, former Finance Officer of Autonomy. Sushovan Hussain, former chief financial officer of Autonomy, was sentenced in the United States on similar charges earlier this year.
Mr. Lynch (pictured), founder and operator of Autonomy, sold the company to Hewlett-Packard for $ 11 billion in 2011. A year later, Meg Whitman, then CEO of HP, accused M Lynch and other Autonomy executives have deliberately falsified the company's financial performance, resulting in a $ 8.8 billion write-down.
My Lynch's lawyers on Thursday characterized the indictment as "mock justice" and said the software entrepreneur "would vigorously defend the charges against him." In a statement, Chris Morvillo of Clifford Chance and Reid Weingarten of Steptoe & Johnson said: "These claims amount to a commercial dispute over the application of British accounting standards, which is the subject of a civil procedure with HP in English courts, where he belongs, "they said.
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