Mike Lynch, the founder of Autonomy, faces a $250 000.00 fine if charges of fraud brought against him are proved.
The US government has filed fraud charges relating to the $11,1-billion acquisition of Autonomy by HP in 2011.
The acquisition of the UK software giant led directly to HP writing down $8,8-billion the following year, and accusations that HP was tricked into paying more than Autonomy was worth.
Among the allegations against Lynch and others are that they backdated written agreements to misreport revenue, and that they lied about the company’s finances to analysts, regulators and independent auditors.
If Lynch is convicted on all the charges, he could face 20 years in prison and a fine of $250 000.00