Mike Lynch need to experience fraud prices in the US in excess of $11bn Autonomy sale, judge guidelines

Mike Lynch should face fraud charges in the US over $11bn Autonomy sale, judge rules

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OFTWARE tycoon Mike Lynch must be extradited to the US to deal with fraud prices over the $11billion (£8billion) sale of Autonomy to Hewlett-Packard, a judge in London has dominated.

The US Department of Justice has pursued Lynch around allegations that he falsely inflated Autonomy’s profits earnings before the sale to HP in 2011.

The Silicon Valley hardware large obtained the software package firm only to compose down its worth by £6 billion a yr afterwards.

The firm claims the sale figure was infated by ‘accounting improprieties, disclosure failures and outright misrepresentations’.

Lynch, 56, was arrested in February past calendar year and has been on bail at any time given that. He denies the allegations from him and has bitterly fought his extradition.

He is also ready for the verdict in a $5 billion London civil demo brought by HP.

Choose Michael Snow reported he would provide his ruling with out ready for that civil verdict, calling it “of limited importance in the situation.”