United States asks UK to extradite tech billionaire Michael Lynch to face fraud charges
- Lynch, once hailed as Britain’s answer to Bill Gates, is currently battling American IT giant Hewlett Packard in London’s High Court
The United States has formally requested the extradition of Michael Lynch, the British tech billionaire who sold his company to Hewlett Packard (HP) in an ill-fated US$11.1 billion deal, to face charges including securities fraud, wire fraud and conspiracy.
The US embassy in London submitted the extradition request on November 21 for Lynch to stand trial in the United States, according to a court filing dated December 1.
Lynch, once hailed as Britain’s answer to Bill Gates, is currently battling the American IT giant in London’s High Court.
HP is seeking damages of US$5 billion from Lynch and his former chief financial officer Sushovan Hussain, alleging that they inflated the value of their data firm before selling it.
Lynch has denied the accusations, saying HP mismanaged the acquisition. He is counter-suing for loss and damages.
Lynch has been indicted in San Francisco on 17 counts including wire fraud, conspiracy and securities fraud, which carries a maximum term of 25 years in prison.
A spokesman for Lynch said at the time that the charges were “baseless and egregious”.
Hussain was sentenced in San Francisco in May to five years in prison, fined US$4 million and ordered to forfeit US$6.1 million after being convicted on 16 counts of wire fraud, securities fraud and conspiracy.
