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Reuters

The United States has formally requested the extradition of Michael Lynch, the British tech billionaire who sold his company to Hewlett Packard (HP) in an ill-fated US$11.1 billion deal, to face charges including securities fraud, wire fraud and conspiracy.
The US embassy in London submitted the extradition request on November 21 for Lynch to stand trial in the United States, according to a court filing dated December 1.
Lynch, once hailed as Britain’s answer to Bill Gates, is currently battling the American IT giant in London’s High Court.
HP is seeking damages of US$5 billion from Lynch and his former chief financial officer Sushovan Hussain, alleging that they inflated the value of their data firm before selling it.
Lynch has denied the accusations, saying HP mismanaged the acquisition. He is counter-suing for loss and damages.
Lynch has been indicted in San Francisco on 17 counts including wire fraud, conspiracy and securities fraud, which carries a maximum term of 25 years in prison.
A spokesman for Lynch said at the time that the charges were “baseless and egregious”.
Hussain was sentenced in San Francisco in May to five years in prison, fined US$4 million and ordered to forfeit US$6.1 million after being convicted on 16 counts of wire fraud, securities fraud and conspiracy.


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Britain

United States asks UK to extradite tech billionaire Michael Lynch to face fraud charges

Lynch sold his company to Hewlett Packard in an ill-fated US$11.1 billion deal. Photo: EPA-EFE

US bid to extradite North Korean businessman Mun Chol-myong from Malaysia ‘solely based on politics’, lawyer says

The national flags of North Korea and the United States displayed on a street in Hanoi, Vietnam, in February. Photo: EPA-EFE

epa07855087 North Korean Embassy in Malaysia counselor Kim Yu Song (R) and a relative (L) of North Korean businessman Mun Chol Myong leave the Kuala Lumpur High Court, Malaysia, 20 September 2019. Mun Chol Myong, from North Korea who live in Malaysia, is facing potential extradition to the US as to face money laundering charges after he was arrested on 13 May 2019. EPA-EFE/FAZRY ISMAIL

Lawyer Jagjit Singh (right), defence counsel for North Korean businessman Mun Chol-myong, speaks with North Korean embassy in Malaysia counsellor Kim Yu-song at the Kuala Lumpur High Court on Friday. Photo: EPA-EFE

Sweden refuses request from China to extradite former official Qiao Jianjun over ‘embezzlement of US$11 million’

Sweden arrested Qiao Jianjun in June last year. He was released last month without a ruling on the Chinese request, then rearrested days later on a separate US request. Photo: Handout via CCTV

China had asked Sweden to extradite Qiao Jianjun on suspicion of breach of trust and fraud relating to the embezzlement of around US$11 million. Photo: Shutterstock

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Lynch, once hailed as Britain’s answer to Bill Gates, is currently battling American IT giant Hewlett Packard in London’s High Court



Lynch, once hailed as Britain’s answer to Bill Gates, is currently battling American IT giant Hewlett Packard in London’s High Court.


United States

Hewlett-Packard

Diplomacy