Mike Lynch resigns from government advisory role following criminal charges

Lynch used false and misleading statements from 2009 2010 and early 2011 “to make Autonomy more attractive

Lynch used false and misleading statements from 2009 2010 and early 2011 “to make Autonomy more attractive

Lynch's lawyers, Chris Morvillo of Clifford Chance and Reid Weingarten of Steptoe & Johnson, said they will "vigorously defend the charges". HP has sought to blame Autonomy for its own crippling errors, and has falsely accused Mike Lynch to cover its own tracks. In 2011, the company was bought by HP for $11bn in a move meant to form the central part of the USA group's move into software.

Stephen Chamberlain, vice president of finance at Autonomy from 2005-2011, has also been charged alongside Lynch, according to the court documents.

Mr. Lynch consistently denied involvement, with his defence lawyers stating that the indictment "is a travesty of justice".

The statement also claims Lynch is being made a scapegoat for HP's failures, framing the allegations as a business dispute over the application of United Kingdom accounting standards.

Prosecutors had long identified Lynch, 53, as a co-conspirator with his chief financial officer at Autonomy, Sushovan Hussain, who was found guilty in April of orchestrating an accounting fraud to arrive at the $10.3 billion price Hewlett-Packard paid for the company.

'Mike Lynch will not be a scapegoat for their failures.

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But the buyers wrote $8.8bn off the value of the deal, citing "accounting improperties" and accused Mr.

Lynch's lawyers told the Financial Times that the charges were a "travesty of justice" and that the proper venue for the case is the courts of England where HPE is pursuing a civil case against Lynch "over the application of United Kingdom accounting standards".

Earlier this year, the Financial Reporting Council began disciplinary proceedings against former bosses at Autonomy and auditors at Deloitte linked to the alleged fraud at the software firm.

Hussain, whose sentencing date was postponed, was required to disclose his stake, with Lynch, in Invoke and startup company Darktrace Ltd. Lynch, 18-cr-00577, U.S. District Court, Northern District of California (San Francisco).

U.S. District Judge Charles Breyer ordered Hussain to turn over to prosecutors detailed records of the investments, including transactions involving Lynch, by November 22. It is seeking $5 billion in damages against Lynch and Hussein in a civil lawsuit filed in the United Kingdom.

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