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.
- Former Autonomy CFO Sushoven Hussain Convicted of Fraud
- DoJ Charges Autonomy Founder with Fraud in $11B Sale to HP