Former Autonomy leaders facing criminal fraud charges in Hewlett-Packard acquisition deal

Posted by Romero01Johns-blog, 7 months ago

As stated by the U.S. Department of Justice, Autonomy creator and former CEO Michael Lynch, in addition to Stephen Chamberlain, former vice president of finance at Autonomy, will face charges of fraud and fraud in relation to HP's $11 billion acquisition of Autonomy at 2012. The group are accused of carrying lots of measures to obscure the real financial condition and growth prospects for Autonomy.

Hussain is reportedly appealing that conviction, which prompted U.K. regulators.

If found guilty, lynch can spend 20 years in prison and face a fine

Ex-Autonomy CEO Mike Lynch might be facing a 20-year prison sentence if he is convicted of fraud after the company to HP's $11 billion sale.

According to court documents, fellow Autonomy executive Stephen Chamberlain and Lynch are accused of providing false statements to HP through the selling of the company. have been apparently falsified to make it look like Autonomy was in a much better financial condition than it had been when it was sold to the technology giant in 2011.

The warrant for Lynch's arrest has been shown to the public and says that when he's found guilty in his trial, a date for which has not yet been set, he could be given a prison sentence of up to 20 years and will need to forfeit $815 million.

However, Lynch's attorneys think the case is being unfairly heard, asserting rather than it being accepted to a federal court at the US it should be heard at a court that is civil that is British.

"This circumstance is unsupportable. It aims a British citizen having rehashed allegations to a British firm regarding events that happened in Britain a decade ago," Lynch's lawyers said. has no place in a US court. The claims number to a firm dispute over the application of UK accounting stand