Britain’s interior ministry has said it gave the go-ahead for the extradition of tech tycoon Mike Lynch to the United States to face charges including securities fraud related to the $11 billion deal to sell his company Autonomy to Hewlett Packard.
In July, a London court ruled that Lynch could be extradited, and this week a bid in court to delay the ruling failed. He can apply to the High Court for permission to appeal.
“On 28 January, following consideration by the courts, the extradition of Dr Michael Lynch to the US was ordered,” a Home Office spokesperson said.
Home Secretary Priti Patel has approved the extradition of a British tech tycoon to the US to face criminal fraud charges.
Lynch is accused of manipulating its accounts to inflate the value of the company before its sale.
In 2012, just over a year after the purchase, Hewlett Packard announced an $8.8bn write-down (reduction in estimated value) of the value of Autonomy.
Hewlett Packard sued Autonomy’s founder and former chief financial officer, Sushovan Hussain, for around $5bn, claiming they “artificially inflated Autonomy’s reported revenues, revenue growth and gross margins”.