Mike Lynch Faces Fraud Charges Over Autonomy’s 2011 HP Deal
There’s news that’s as dramatic as a soap‑opera cliffhanger: Mike Lynch, the former chief executive of UK‑owned tech firm Autonomy, is now under the FBI’s hot seat for alleged fraud tied to the 2011 sale to Hewlett‑Packard.
The Backstory
Autonomy, which once proudly called San Francisco and Cambridge home, struck a deal with HP for a jaw‑dropping $10.3 billion (£8 billion). Back in 2010, a whopping 68% of its reported revenue came from the U.S. and the Americas, so the stakes were sky‑high.
Why the Heat Turns Up
Lawyers say Lynch, together with Kevin Chamberlain and other co‑conspirators, inflated Autonomy’s revenue numbers between 2009 and 2011 by simply over‑reporting them. Think of it like saying your pizza had 12 slices when it actually had 10 – only, this time, the stakes were billions.
Additional Allegations
According to the charge sheet, the duo also:
- Spun misleading statements to regulators and market analysts.
- Intimidated, pressured, and paid off people who raised concerns about Autonomy’s financial practices.
What Sparked the Investigation
Last April, Sushovan Hussain, Autonomy’s former finance chief, was found guilty of accounting fraud. Prosecutors seized the opportunity to dig deeper, pulling Lynch into the mix.
All the Fun Times of Headlines…*
So, there you have it: a tale of inflated numbers, a high‑profile company sale, and a sprawling US legal saga. Lynch’s chapter in the Autonomy story is officially on pause.
*Remember: you’re reading a rewrite – hope it didn’t rain on the celebratory board‑room coffee moments of the original articles.
