Mike Lynch: fraud trial begins in US

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British tech entrepreneur Mike Lynch is appearing in court in the US, as his trial on fraud charges gets under way.

He was extradited to the US last year, after a UK judge ruled in favour of HP in a similar civil fraud case.

In opening arguments, Mr Lynch's attorney Reid Weingarten said the tycoon was preparing to take the stand at trial, as he seeks to defend a record that has been severely battered since the sale of the firm Autonomy for more than $11bn (£8.6bn).

At the time, the deal ranked as the largest-ever takeover of a British technology business.

But just a year later, HP wrote down the value of Autonomy by $8.8bn and claimed it had been duped into overpaying for the company.

Once dubbed "Britain's Bill Gates", Mr Lynch is accused of overinflating the value of his software firm when he sold it to Hewlett-Packard (HP) in 2011. The 58-year-old, who faces 16 charges, faces up to 25 years in prison if convicted. He denies the claims.

bbc.co.uk

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