Artificial Inflation? Mike Lynch Accused of Deliberate Fraud in High Court

British technology entrepreneur Mike Lynch committed a “deliberate fraud over a sustained period of time” to inflate the value of his company, Autonomy, by billions of dollars ahead of its sale, the High Court of Justice in England has heard.

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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