Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK tech tycoon Mike Lynch loses bid to block US extradition

by April 21, 2023
April 21, 2023
UK tech tycoon Mike Lynch loses bid to block US extradition

UK tech tycoon Mike Lynch lost his bid to appeal his extradition to the US to face criminal charges over the Hewlett Packard sale.

The Autonomy Corp. founder had tried to block his transfer to the US after the British government approved the move in January 2022. This followed a separate court judgment that he was dishonest in the $11 billion sale of his company.

None of the grounds of appeal were arguable, judges Clive Lewis and Julian Knowles wrote in a ruling Friday.
Lynch, who denies all the charges, had argued that the case belonged in the UK and could have been fully investigated by British authorities. Spokespeople for Lynch did not immediately respond to calls and emails requesting a comment.

It’s the latest chapter in a legal saga that began shortly after the 2011 sale of Lynch’s Autonomy to Hewlett Packard. A year after the sale, the Silicon Valley hardware giant wrote down the value of the deal by $8.8 billion.

Lynch, had been seeking to appeal on five grounds, with his main argument being that the criminal case against him should be in the UK where the bulk of the events allegedly occurred.

“These matters belong firmly in the UK,” Alex Bailin, Lynch’s lawyer, said at the hearing. “Extradition is not in the interest of justice and the allegations can fairly be tried here.”

It’s the latest chapter in a legal saga that began shortly after the 2011 sale of Lynch’s Autonomy to Hewlett Packard. A year after the sale, the Silicon Valley hardware giant wrote down the value of the deal by $8.8 billion.

Bailin said that the UK’s Serious Fraud Office has “expressly reserved” its rights to prosecute Lynch in the UK if the extradition is refused. This is despite the SFO previously opening an investigation and closing the case without any charges.

The US government opposed the application to appeal. Its lawyers said that the “USA was integral to all aspects of the alleged fraud” and that the extradition should proceed as it was predominantly US-based shareholders who were victims of the fraud, according to court documents prepared for the hearing.

Read more:
UK tech tycoon Mike Lynch loses bid to block US extradition

0
FacebookTwitterGoogle +Pinterest
previous post
Virgin StartUp invites purpose-driven start-ups to enrol on its impact accelerator  
next post
Female co-founder’s company awarded The King’s Award for International Trade amid praise from UK Government minister

You may also like

A Critical Business Challenge for 2024

February 8, 2024

Barclays Suspends Festival Sponsorship Amid Protests

June 16, 2024

Staff at nine train companies to stage 24-hour...

August 31, 2022

Climate Change Impacting Easter Egg Prices

March 21, 2024

Removal of presenteeism and focus on wellbeing should...

August 22, 2022

Church of England divests of fossil fuels as...

June 23, 2023

Prince’s Trust warns of ‘digital skills crisis’ as...

August 1, 2024

Microsoft to Offer Teams Separately from Office Suite...

April 3, 2024

Your Dream Shed: An UK Insider’s Guide to...

March 5, 2024

Loose Women’s Kaye Adams prevails in ten-year battle...

November 7, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • FAST distribution and IA

      June 7, 2025
    • Why Independent Digital Platforms Are Gaining Ground Among UK Entrepreneurs

      June 7, 2025
    • Is Decentralisation the Future of Online Services in the UK?

      June 7, 2025
    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved