LONDON (Reuters) – The United States has formally requested the extradition of Michael Lynch, the British tech billionaire who marketed his company to Hewlett Packard (N:) (HP) in an ill-fated $11.1 billion deal, to encounter prices including securities fraud, wire fraud and conspiracy.
The U.S. embassy in London submitted the extradition ask for on Nov. 21 for Lynch to stand demo in the United States, according to a courtroom submitting dated Dec. 1.
Lynch, when hailed as Britain’s remedy to Bill Gates, is at this time battling the American IT giant in London’s Significant Court.
HP is searching for damages of $5 billion from Lynch and his former main fiscal officer Sushovan Hussain, alleging that they inflated the benefit of their facts organization right before marketing it.
Lynch has denied the accusations, expressing HP mismanaged the acquisition. He is counter-suing for loss and damages.
Lynch has been indicted in San Francisco on 17 counts like wire fraud, conspiracy and securities fraud, which carries a optimum term of 25 yrs in prison.
A spokesman for Lynch claimed at the time that the rates were being “baseless and egregious”.
Hussain was sentenced in San Francisco in Could to five a long time in prison, fined $4 million and requested to forfeit $6.1 million after staying convicted on 16 counts of wire fraud, securities fraud and conspiracy.
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