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Autonomy Founder Lynch Arrested in U.S. Extradition Fight (2)

Feb. 5, 2020, 3:53 PM

Autonomy founder Mike Lynch, who’s fighting U.S. charges that he orchestrated a massive fraud at his software firm, was arrested in London as authorities pushed forward with his extradition.

Lynch submitted himself for arrest and was granted conditional bail after being ordered to put up a 10 million-pound ($13 million) security, Westminster Magistrates Court staff said Wednesday. The U.S. Department of Justice alleges that Lynch made false statements to make his software firm more attractive to Hewlett-Packard Co., which acquired Autonomy for $11 billion in 2011. It wrote down the value by $8.8 billion just a year later. ...