tech entrepreneur mike lynchonce heralded as Britain’s answer Bill Gateswas extradited to the US, where he faces fraud charges.

What happened: The billionaire founder is accused of deceiving the US tech giant Hewlett Packard Enterprise Co HPE overpaid when it landed an $11 billion deal for its software company autonomy in 2011.

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After two years of fighting extradition, Lynch finally arrived in San Francisco on Thursday, where he faces a possible 20-year prison sentence if found guilty of the charges against him. A California court granted Lynch parole on condition that $100 million bail and residency at an address in San Francisco. In addition, Lynch must cover the cost of 24-hour security with video surveillance and armed guards. reported The guard.

The tech mogul has denied all allegations of any wrongdoing.

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Why it matters: Last year, Hewlett-Packard emerged victorious from a six-year legal battle against Lynch in the UK. A judge ruled that Lynch committed civil fraud by manipulating Autonomy’s accounts to overstate the company’s value. Following the allegations against Lynch, the UK Home Secretary at the time, Priti Patelsanctioned Lynch’s extradition to the US to face 14 counts of conspiracy and fraud amid allegations that his actions caused HP investors to lose billions of dollars.

Former Finance Director of Autonomy, Sushovan Hussainwas sentenced to five years in US prison in 2019 after being found guilty of fraud related to the same deal.

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