UK entrepreneur turned billionaire investor, Mike Lynch, has been charged with fraud in US over the 2011 sale of his enterprise software company.
Lynch sold Autonomy, the big data company he founded back in 1996, to computer giant HP for around $11BN some seven years ago.
But within a year around three-quarters of the value of the business had been written off, with HP accusing Autonomy’s management of accounting misrepresentations and disclosure failures.
Lynch has always rejected the allegations, and after HP sought to sue him in UK courts he countersued in 2015.
