{"id":4943,"date":"2018-11-30T08:22:12","date_gmt":"2018-11-30T08:22:12","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/ex-autonomy-boss-mike-lynch-charged-with-fraud-in-the-us\/"},"modified":"2018-11-30T08:22:12","modified_gmt":"2018-11-30T08:22:12","slug":"ex-autonomy-boss-mike-lynch-charged-with-fraud-in-the-us","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/ex-autonomy-boss-mike-lynch-charged-with-fraud-in-the-us\/","title":{"rendered":"Ex-Autonomy boss Mike Lynch charged with fraud in the US"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape has-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Mike Lynch\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/13AEE\/production\/_101822608_hi010400128.jpg\" width=\"976\" height=\"549\"\/><\/span><figcaption class=\"media-caption\"><span class=\"off-screen\">Image caption<\/span><br \/>\n                <span class=\"media-caption__text\"><br \/>\n                    Mike Lynch, founder of Autonomy<br \/>\n                <\/span><br \/>\n            <\/figcaption><\/figure>\n<p class=\"story-body__introduction\">Mike Lynch, Autonomy&#8217;s former chief executive, has been charged with fraud in the US.<\/p>\n<p><a href=\"https:\/\/www.documentcloud.org\/documents\/5332848-USA-v-Mike-Lynch-29-11-2018.html\" class=\"story-body__link-external\">The charge, which carries a maximum term of 20 years, <\/a>relates to its 2011 sale to computer giant Hewlett-Packard.<\/p>\n<p>Prosecutors have targeted Mr Lynch after his former finance chief, Sushovan Hussain, was found guilty in April of accounting fraud.<\/p>\n<p>Software giant Autonomy was seen as a runaway British success story at the time of its $10.3bn (\u00a38bn) sale to HP.<\/p>\n<p>Before it was bought by Hewlett-Packard, Autonomy was a UK company which maintained headquarters in San Francisco and Cambridge.  <\/p>\n<p>In 2010, about 68% of Autonomy&#8217;s reported revenues came from the US and elsewhere in the Americas.<\/p>\n<p>According to the charges, between 2009 and 2011, Mr Lynch and Mr Chamberlain, and other co-conspirators  artificially inflated Autonomy&#8217;s revenues by overstating them.<\/p>\n<p>They are also accused of making misleading statements to regulators and market analysts covering the company.<\/p>\n<p>The charge sheet also says they &#8220;intimidated, pressured and paid off persons who raised complaints about or openly criticized Autonomy&#8217;s financial practices and performance&#8221;.  <\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46397367\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image caption Mike Lynch, founder of Autonomy Mike Lynch, Autonomy&#8217;s former chief executive, has been charged with fraud in the US. The charge, which carries a maximum term of 20 years, relates to its 2011 sale to computer giant Hewlett-Packard. Prosecutors have targeted Mr Lynch after his former finance chief, Sushovan Hussain, was found guilty &hellip; <\/p>\n","protected":false},"author":0,"featured_media":4944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4943"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/4944"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}