Ajay Joseph

London, UK

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. Also read: England rolls back COVID curbs as omicron threat recedes,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. Also read: UK claims Russia looking to place pro-Moscow government in Ukraine,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. Also read: COVID toe, early COVID’s ugly side-effect, may finally have an explanation,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.

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<ul>
  <li>A London court ruled that Lynch could be extradited, and this week a bid in court to delay the ruling failed</li>
  <li>He can apply to the High Court for permission to appeal</li>
  <li>Lynch is accused of manipulating its accounts to inflate the value of the company before its sale</li>
</ul>

#MikeLynch

Britain gives go-ahead for the US extradition of Autonomy founder Mike Lynch