US authorities have made a formal request to the UK for the extradition of Mike Lynch in connection with the sale of software company Autonomy to Hewlett Packard in 2011.
Mr Lynch is alleged to have manipulated Autonomy’s financial reports in order to inflate the apparent value of the company before its sale and faces 17 counts of wire and securities fraud in the US. The charges carry a sentence of up to 20 years’ imprisonment on conviction.
The request comes as Mr Lynch is engaged in parallel proceedings in the High Court in which Hewlett Packard are seeking £3.7bn in damages. The case is one of the biggest civil fraud trials in the UK’s history.
Autonomy’s finance director, Sushovan Hussain, was convicted on similar charges last month in the US and sentenced to five years’ imprisonment. He is appealing his conviction.