US demands UK extradition of former Autonomy founder involved in fraud over HP billions

U.S. authorities have formally asked the UK to extradite Michael Lynch, the former founder of Autonomy, a British software company, for allegedly defrauding hp over eight years in a $11.1 billion merger with the company. According to a court document filed on December 1, the British Embassy in London filed an extradition request on November 21 for Lynch to stand trial in the United States.

US demands UK extradition of former Autonomy founder involved in fraud over HP billions

Mr Lynch is currently in the High Court in London to take on HP’s lawsuit. The former tech billionaire was once known as Britain’s Bill Gates.

In 2011, Lynch sold Autonomy to Hewlett-Packard for $11 billion. But a year later, Hewlett-Packard’s then-CEO Meg Whitman accused Lynch and other Autonomy executives of deliberately misrepresenting the company’s financial performance, leading hp to write down $8.8 billion in assets.

HP is seeking $5bn in damages from Mr Lynch and Sushovan Hussain, the former chief financial officer of Autonomy.

Lynch has denied the allegations, saying HP mismanaged the acquisition and is filing a counterclaim.

The U.S. Department of Justice filed a lawsuit a year ago in U.S. District Court in San Francisco, charging Lynch with 17 counts, including telecommunications fraud, conspiracy and securities fraud, and faces up to 25 years in prison if convicted.

In May, another defendant in the case, Sukhovan Hussain, was sentenced to five years in san Francisco, fined $4 million and confiscated $6.1 million in illegal gains.

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