20/05/2022

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Mike Lynch can be extradited to US, judge rules

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Mike Lynch, the alleged architect of Britain’s most important corporate fraud, has endured a essential defeat in his combat from extradition to America as he seeks to stay clear of potentially decades in prison.

The Autonomy founder, who is desired on prices of fraud over the sale of the software program company, moved a step closer to trial on US soil right after District Judge Michael Snow mentioned it was “in the pursuits of justice” to extradite him. Mr Lynch denies all prices.

Former ministers attacked the choice, saying any allegations from the businessman must be examined in the Uk and that the choose has dismissed future evidence.

Attorneys for Mr Lynch – as soon as hailed as Britain’s answer to Monthly bill Gates – mentioned they count on to enchantment the choice if it is accredited by the Dwelling Secretary.

The 56-12 months-outdated faces 17 counts of fraud in the US over the $11.7bn (£8.5bn) sale of Autonomy, the FTSE one hundred company he started, to HP in 2011.

HP wrote down just about all of Autonomy’s worth a 12 months right after the deal, proclaiming that former executives at the company had inflated its revenues and profits.

David Davis, the former shadow residence secretary, mentioned it was an “outrage” that Mr Lynch must be tried in a US court.

“This is all about the acquire of our major software program company, Autonomy, from the London Inventory Trade, and a voluntary acquire by Hewlett Packard. That all transpired in Britain,” he mentioned.

“The implication of that for a business enterprise position of check out, is that every single solitary acquire or contract by an American company, will be adjudicated by the American court. That’s truly major publish-Brexit.”

Andrew Mitchell, the former intercontinental improvement secretary, mentioned: “This is a weird, incomprehensible choice that means none of us are safe from the reach of American prosecutors. The Dwelling Secretary must replicate very carefully in truth prior to agreeing that this extradition can go ahead.”