A British judge found on Friday that tech tycoon Mike Lynch had masterminded an elaborate fraud to inflate the value of his company Autonomy before it was bought by Hewlett-Packard for $11 billion in 2011 in one of the UK's biggest tech deals.
British entrepreneur Mike Lynch arrives at Westminster Magistrates Court in London, Britain, February 12, 2021. REUTERS/Toby MelvilleHP wins most of civil case against LynchLynch fraudulently inflated the value of his companyLynch to appeal civil judgement and extradition -lawyers
The judge said Lynch was aware that practices Autonomy engaged in were dishonest, its revenue recognition was improper and its accounts were false. "On 28 January, following consideration by the courts, the extradition of Dr Michael Lynch to the US was ordered," a Home Office spokesperson said. "This is not the end of the battle — far from it. Dr Lynch will now file an appeal to the High Court in London."The 56-year-old turned ground-breaking research at Cambridge University into the foundation of Autonomy, which became Britain's biggest software company and a member of the blue-chip FTSE 100 index.
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