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

Future Retirement Success

Business

Tech tycoon Mike Lynch missing after yacht sinks off Sicily, weeks after £8bn fraud acquittal

by August 19, 2024
August 19, 2024
Tech tycoon Mike Lynch missing after yacht sinks off Sicily, weeks after £8bn fraud acquittal

Mike Lynch, the British tech entrepreneur recently acquitted in a high-stakes £8bn fraud case, is missing after his yacht sank off the coast of Sicily.

The incident occurred just weeks after Lynch’s remarkable legal victory, which saw him cleared of fraud charges in a US court following a 13-year legal battle with technology giant HP.

Lynch, often dubbed “Britain’s Bill Gates,” was aboard his 56-metre yacht, Bayesian, named after the statistical method central to his academic work, when it was caught in a freak tornado off the coast of Palermo. His wife, Angela Bacares, and several other passengers were rescued, but Lynch, his daughter Hannah, and several others are still missing.

The sinking marks a tragic turn of events for Lynch, who had recently celebrated his acquittal and expressed intentions to challenge the UK’s extradition laws. Lynch, who founded the software company Autonomy before selling it to HP for over £8bn in 2011, had faced allegations of inflating the company’s value to secure the sale. Despite losing a civil case in the UK, Lynch was found not guilty in a criminal trial in the US, a verdict that few expected.

Lynch’s yacht had been travelling along the Sicilian coast when it encountered the storm. Local fishermen described seeing the vessel in distress before it sank, leaving wreckage scattered on the sea’s surface. Italian authorities are continuing the search for the missing passengers, but hopes are fading.

Lynch, whose wealth was estimated at $450m, primarily lived on a farm in Suffolk, where he raised rare breeds of livestock. Known for his pioneering work in the tech industry, Lynch also played a key role in the founding of cybersecurity firm Darktrace and was a prominent investor in the tech sector through his venture capital firm, Invoke Capital.

Read more:
Tech tycoon Mike Lynch missing after yacht sinks off Sicily, weeks after £8bn fraud acquittal

0
FacebookTwitterGoogle +Pinterest
previous post
Americans Paid for the Trump Tariffs—and Would Do So Again
next post
Top Ten Charts for August: Two Magnificent 7 Stocks Worth Watching

You may also like

Finding the Best Ways to Increase Customer Retention...

December 10, 2024

UK’s gender pay gap reverses as young women...

March 4, 2025

Autumn Statement is a ‘bad news sandwich’ for...

November 22, 2023

Invoice Finance Comparison Tool Launched

September 7, 2023

Lloyds profits swell by nearly 50 per cent...

May 3, 2023

Half of UK front gardens under threat as...

August 23, 2023

Nearly 250,000 young people are now running businesses

January 15, 2024

The Business Lessons of Online Sportsbooks

March 14, 2023

How to plan for the death of a...

August 23, 2023

Rivian announce partnership to build in Europe with...

September 9, 2022

    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

    • Don’t Give Big Businesses Immunity from Litigation

      June 27, 2025
    • Unmasking Medicaid Money-Laundering Schemes: Medicaid Financing Gimmicks 101

      June 27, 2025
    • Top moments from the Trump-Biden debate that changed the course of the 2024 election

      June 27, 2025
    • Trump exerted ‘maximum pressure’ on Iran and Israel to ‘deliver peace’: Leavitt

      June 27, 2025
    • Iranian foreign minister reiterates ‘serious damage’ to nuclear facilities, despite ayatollah’s comments

      June 27, 2025
    • Maybe Most People Do Not Want Teacher-Led Public School Prayer—But They Do Want Chaplains

      June 27, 2025

    Categories

    • Business (8,329)
    • Investing (2,077)
    • Politics (15,829)
    • Stocks (3,173)
    • 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