Mon. Jun 27th, 2022

    An extract from an article in Sky News

    A British tech entrepreneur committed a “deliberate fraud over a sustained period of time” to inflate the value of his company by billions of dollars ahead of its sale, the High Court has heard.

    Hewlett-Packard (HP), which bought Cambridge-based software firm Autonomy for $11.1bn in 2011, made the claim at the start of what is believed to be the UK’s biggest civil fraud trial.

    The court was also told of expletive-laden emails to staff and managers from Mr. Lynch, who was described as a “controlling and demanding individual”.

    US tech giant HP claims that the entrepreneur [Mike Lynch], together with former finance director Sushovan Hussain, artificially inflated reported revenues and profit margins.

    It is suing the two men for around $5bn.

    Read the complete article at UK tech entrepreneur Mike Lynch accused of ‘deliberate fraud’

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