Two tech executives face potential 20-year jail terms over an $11 billion HP deal involving alleged fraud. HP claimed accounting misstatements led to overpayment of $1.7-2.7 billion for Autonomy. The trial portrays a former British tech star as both a scam artist and visionary, with the defense highlighting differences in accounting standards.
i cannot believe this autonomy fraud thing is finally seeing a day in court HP’s doomed acquisition — considered one of the worst in corporate history — happened just after i started reporting on the industry like 13 years ago https://t.co/Ozadv2c9hI https://t.co/kEU0fE1HmW
Mike Lynch trial: defense points to difference in accounting standards https://t.co/ltzFymTFSB
As Fraud Trial Opens, Tech Titan Who Wooed HP Cast as Accounting Alchemist, 'Startup Guy' Who Delegated Details https://t.co/MHAyISPtvz
"The former Autonomy boss has always claimed that HP’s $5bn write-off for the alleged fraud was inflated to make up for its own business failures. During Autonomy CFO’s trial, HP estimated that alleged accounting misstatements led it to overpay for company by $1.7bn-2.7bn."
Former British tech star depicted as scam artist, visionary in trial about HP's disastrous 2011 deal https://t.co/5hqZ141CdL
How a 13-year-old, $11 billion HP deal may land two tech executives in jail for 20 years https://t.co/nb0eRRIxlB