Priti Patel orders extradition of tech billionaire Mike Lynch

Priti Patel has ordered the British tech billionaire Mike Lynch to be extradited to the US to facial area felony fraud costs around the $11bn (£8.2bn) sale of his software program company Autonomy.

The Residence Secretary approved a ruling that Mr Lynch ought to appear in a US court to encounter statements that he illegally inflated the former FTSE 100 company’s sale to Hewlett Packard in 2011.

A Dwelling Workplace spokesman explained: “On January 28, following thing to consider by the courts, the extradition of Michael Lynch to the US was requested.”

Chris Morvillo of Clifford Probability, Mr Lynch’s lawyer, stated that Mr Lynch “firmly denies the charges introduced from him in the US and will carry on to fight to establish his innocence”. 

“He is a British citizen who ran a British enterprise in Britain topic to British legislation and regulations and that is wherever the make a difference should be solved. This is not the stop of the fight — significantly from it,” he stated. 

Mr Morvillo extra that Mr Lynch will now file an attractiveness to the Significant Courtroom in London.

The Household Business order arrived just hrs soon after Mr Lynch misplaced a $5bn Higher Court docket fraud circumstance over the sale, in a defeat that promotions a blow to his probabilities of efficiently attractive the extradition order.

A decide mentioned HP had “substantially succeeded” in its fraud situation from Mr Lynch and his former chief economic officer, Sushovan Hussain, indicating the pair had been “dishonest” and “obsessed” with propping up Autonomy’s share selling price.

The US has charged Mr Lynch with 17 counts of fraud about Autonomy’s sale, saying he illegally exaggerated revenues forward of the offer. Mr Hussain has been found guilty of fraud in the US and is serving a 5-12 months jail sentence. 

Both have denied the promises and Mr Lynch is fighting extradition.

Final 12 months, a judge explained that Mr Lynch need to be despatched to the US and gave Ms Patel two months to approve the order. But the Home Business had regularly delayed a decision, expressing it wished to see the consequence of the civil case.

Hewlett Packard, now acknowledged as HPE, sued Mr Lynch and Mr Hussain in London in 2015 in what turned Britain’s largest fraud trial.

Mr Justice Hildyard, offering a summary of his prolonged-awaited judgment yesterday, explained that Mr Lynch experienced engaged in “contrived” bargains with “no business substance” to mislead buyers, auditors and the company’s very own directors above Autonomy’s overall performance.