Tech tycoon Lynch vows to combat US extradition in HP-Autonomy ‘fraud’ case | Enterprise Information

The founding father of UK tech agency Autonomy has mentioned he’ll combat extradition to america on fraud costs after a London court docket granted the transfer.

Dr Mike Lynch, who offered the software program firm to Hewlett Packard (HP) for $11bn in 2011, is needed to face trial within the US on allegations he artificially inflated Autonomy’s worth earlier than the sale, leading to “colossal” losses for HP.

The billionaire businessman has constantly denied the claims.

His authorized staff advised a listening to at Westminster Magistrates’ Court docket that the choice on his extradition ought to wait till judgment in a separate civil case, introduced by HP in opposition to him and Autonomy’s former finance chief Sushovan Hussain.

A draft model is anticipated in September.

However District Decide Michael Snow advised Dr Lynch: “I’ve rejected your varied challenges underneath the Extradition Act.

“I’m required to ship the case to the secretary of state on whether or not you ought to be extradited to the US.”

The ruling signifies that the Residence Secretary Priti Patel has a ultimate say on whether or not to permit the transfer.

If she approves the choice, Dr Lynch has 14 days to launch an enchantment.

Mike Lynch leaves the Rolls Building in London following the civil case over his ..8.4 billion sale of his software firm Autonomy to Hewlett-Packard in 2011. PRESS ASSOCIATION Photo. Picture date: Monday March 25, 2019. On Friday US prosecutors added three new criminal charges to their indictment against Mr Lynch. See PA story COURTS Autonomy. Photo credit should read: Dominic Lipinski/PA Wire
Dr Lynch was the founder and chief government of Autonomy, which specialised in software program to type by means of giant information units

His lawyer Chris Morvillo mentioned of the ruling: “Dr Lynch is disenchanted that the court docket has dominated in opposition to him with out ready for the Excessive Court docket’s judgment within the civil case that examined all these points.

“Dr Lynch denies the fees in opposition to him. On the request of the US Division of Justice (DoJ), the court docket has dominated {that a} British citizen who ran a British firm listed on the London Inventory Alternate must be extradited to America over allegations about his conduct within the UK.

“We are saying this case belongs within the UK. If the Residence Secretary nonetheless decides to order extradition, Dr Lynch intends to enchantment.”

At an earlier listening to, the DoJ mentioned of its extradition request: “(Lynch) could also be a UK citizen, he could have lengthy UK hyperlinks, however as soon as he aimed his dishonest actions on the USA on such a monumental scale, he can not anticipate – simply as another English CEO couldn’t anticipate – to be immune from the American justice system.”

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