U.S. prosecutors on Friday added three new criminal charges to their indictment ...
- U.S. prosecutors on Friday added three new criminal charges to their indictment against British entrepreneur Mike Lynch related to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011.
Lynch faces a new charge of securities fraud, which carries a maximum prison term of 25 years, as well as additional charges of wire fraud and conspiracy in the 17-count indictment filed with the federal court in San Francisco. But the purchase soured a year later when HP wrote off $8.8 billion for Autonomy and accused Lynch, who founded that company in 1996, and his colleagues of accounting fraud.
A federal jury in San Francisco convicted Hussain last April of wire fraud and other crimes tied to Autonomy’s valuation. Hussain’s sentencing is scheduled for May 13, and he has been expected to appeal the verdict.
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