British tech entrepreneur submits to arrest over US charges
Mike Lynch, a British software entrepreneur, recently handed himself into police following a US extradition request. This relates to allegations of conspiracy and fraud over the $11 billion sale of Autonomy to Hewlett Packard in 2011. Hewlett Packard Enterprise have accused both Lynch and his former colleague Sushovan Hussain of manipulating accounts, resulting in them paying in excess of $5 billion for Autonomy.
Lynch is currently awaiting the outcome of a civil fraud trial in London’s High Court and plans to fight the extradition request. Earlier this year, David Davis MP urged the government to delay Lynch’s extradition until the UK trial had concluded and has argued that the UK’s extradition treaty with the US needs to be rebalanced.
Anthony Hanratty, Senior Associate in BDB Pitmans’ white collar crime and investigations team comments:
‘The US are now seeking the extradition of a UK national in circumstances where the UK authorities have already decided there is insufficient evidence to bring charges. Whatever happens next with this extradition request, there will no doubt be further calls for the approach to UK/US extradition to be re-examined.’
The full article is available to subscribers of The Financial Times, here.