Mike Lynch Testifies at Fraud Trial Over Autonomy Sale
British entrepreneur Mike Lynch testified on Thursday in a San Francisco federal courthouse regarding fraud allegations linked to his company Autonomy, which he co-founded and sold to Hewlett-Packard in 2011. Lynch faces 16 counts of wire fraud, securities fraud, and conspiracy. Extradited from the UK in May 2023, he is accused of inflating sales figures, misleading auditors, and intimidating critics. Lynch argued he wasn’t solely responsible for the decisions in question, emphasizing the complex and imperfect nature of running a business. He also noted that he delegated many tasks to employees and had a more technical background. Prosecutors have called over 30 witnesses since March, while Lynch denied knowing or recalling many of them. Conviction could lead to a prison sentence of up to 25 years; Lynch has pleaded not guilty.
British entrepreneur Mike Lynch testified on Thursday in a San Francisco federal courthouse regarding fraud allegations linked to his company Autonomy, which he co-founded and sold to Hewlett-Packard in 2011.
Lynch faces 16 counts of wire fraud, securities fraud, and conspiracy.
Extradited from the UK in May 2023, he is accused of inflating sales figures, misleading auditors, and intimidating critics.
Lynch argued he wasn’t solely responsible for the decisions in question, emphasizing the complex and imperfect nature of running a business.
He also noted that he delegated many tasks to employees and had a more technical background.
Prosecutors have called over 30 witnesses since March, while Lynch denied knowing or recalling many of them.
Conviction could lead to a prison sentence of up to 25 years; Lynch has pleaded not guilty.
Lynch faces 16 counts of wire fraud, securities fraud, and conspiracy.
Extradited from the UK in May 2023, he is accused of inflating sales figures, misleading auditors, and intimidating critics.
Lynch argued he wasn’t solely responsible for the decisions in question, emphasizing the complex and imperfect nature of running a business.
He also noted that he delegated many tasks to employees and had a more technical background.
Prosecutors have called over 30 witnesses since March, while Lynch denied knowing or recalling many of them.
Conviction could lead to a prison sentence of up to 25 years; Lynch has pleaded not guilty.
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