Tech tycoon Mike Lynch, one of six people missing from a sunken yacht off Sicily, had been trying to move past a Silicon Valley debacle that had tarnished his legacy as an icon of British ingenuity.
Lynch, 59, struck gold when he sold Autonomy, a software maker he founded in 1996, to Hewlett-Packard for $11 billion in 2011. But the deal quickly turned into an albatross for him after he was accused of cooking the books to make the sale.
Lynch steadfastly denied any wrongdoing, asserting that he was being made a scapegoat for HP's own bungling — a position he maintained while testifying before a jury during a 2 1/2 month trial in San Francisco earlier this year. U.S. Justice Department prosecutors called more than 30 witnesses in attempt to prove allegations that Lynch engaged in accounting duplicity that bilked billions of dollars from HP.
Although he avoided a possible prison sentence, Lynch still faced a potentially huge bill stemming from a civil cased in London that HP mostly won during 2022. Damages haven't been determined in that case, but HP is seeking $4 billion. Lynch made more than $800 million from the Autonomy sale. Lynch, a Cambridge-educated mathematician, made his mark running Autonomy, which made a search engine that could pore through emails and other internal business documents to help companies find vital information more quickly. Autonomy's steady growth during its first decade resulted in Lynch being awarded one of the U.K's highest honors, the Office of the Most Excellent Order of the British Empire in 2006.
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British Tech Entrepreneur Mike Lynch Missing After Yacht’s SinkingNina Golgowski is a senior breaking news and general assignment reporter. Prior to joining HuffPost, she served as a breaking news reporter for the New York Daily News, as a reporter for the UK's Daily Mail Online, and as a freelancer for CNN. You can reach her at nina.golgowskihuffpost.
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