Hp had bought big data firm autonomy with the aim of making it the centerpiece. British entrepreneur mike lynch leaves the high court in london, britain march 25, 2019. Sushovan hussain is set to face one of autonomys fiercest city critics in a san francisco court little over a year after the takeover, hp wrote off the value of autonomy by three quarters. Chief financial officer sushovan hussain over claims of deception in hewlettpackard co. Exautonomy cfo jailed for five years over hewlettpackard. Exautonomy director accused by us prosecutors of elaborate.
Exautonomy finance chief faces archcritic in us court. Sushovan hussain told me to fiddle revenues, says autonomy. Aug 05, 2019 exautonomy cfo sushovan hussain was accused of sexual misconduct against darktrace staff report security biz says it was a long time ago and he didnt technically work for them anyway. British businessman sushovan hussain today learned that he will be incarcerated for five years in an american prison for the part he played in british software company autonomy s sale to hewlett. Aug 19, 2014 one challenge has been filed by autonomys former chief financial officer, sushovan hussain, who contends that the proposed settlement hp poses a threat to his own legal rights, in part because. This stems from hps purchase of british software company autonomy for. Autonomy founder lynch denies wrongdoing in hp fraud case.
Former autonomy financial chief indicted on felony fraud. Hp from a computer and printer maker into a softwarefocused enterprise services firm. British entrepreneur mike lynch leaves the high court in. One challenge has been filed by autonomys former chief financial officer, sushovan hussain, who contends that the proposed settlement hp poses a. Exautonomy cfo begs court to toss out us fraud allegations hussains lawyers say exec cant be tried in the states for what allegedly happened in. Autonomys exfinance chief due in court on fraud charges. Mike lynch, the founder of the software group autonomy, was a. Mike lynch leaves high court in london 25 march 2019. Autonomy claimed to be a pure software business with gross margins ranging from 8590%. In another email, when hussain was attempting to take leave, lynch wrote. Who is sushovan hussain, the cambridge university tech. Hewlettpackard sues mike lynch over autonomy sale in uks.
Track elected officials, research health conditions, and find news you can use in politics. In april sushovan hussain, who sat on darktraces board until two years ago, was convicted of 16 counts of fraud dating to his time as autonomys. Inconceivable autonomy founder unaware of fraud, court told uk. Autonomy was an enterprise software company founded by lynch in the uk. Hp pledges to hold former execs accountable for autonomy. I miss him already, says judge as mike lynchs court. Autonomy finance chief sushovan hussain handed fiveyear jail.
Autonomy boss lynch ramped sales ahead of hp deal, court. Exautonomy chief financial officer sushovan hussain tries to block. Exautonomy chief financial officer sushovan hussain tries to block the settlement of a number of shareholder lawsuits filed against hp, claiming that the company is attempting a coverup. Mike lynch was a scapegoat after hp botched its acquisition. Exautonomy cfo begs court to toss out us fraud allegations. Prosecutors in the autonomy trial in san francisco are not holding back from demonizing a senior autonomy executive. Sushovan hussain, a british national who was autonomys chief. All the latest news about hp autonomy from the bbc. Hp had buyers remorse over illfated autonomy deal, court hears. British software boss is jailed for fraud daily mail online. Feb 06, 2015 the former cfo of the british software company autonomy sought for a second time to block. Sushovan hussain autonomy a us jury found former autonomy cfo sushovan hussain guilty of fraud. Hp pledges to hold former execs accountable for autonomy fraud.
The insane life of autonomy billionaire mike lynch business. In a sentencing memo put forward this week, they accused pdf the former cfo of the british software company, sushovan hussain, of being equivalent to a james bond villain or a mafioso. Sushovan hussain, who was chief financial officer at the big data software firm, is said to have masterminded a scheme that sought to deceive investors and hp. Ex autonomy director accused by us prosecutors of elaborate financial fraud. Us news is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. The insane life of autonomy billionaire mike lynch. Hush money concerns over autonomys dealings with chief. Later, the court saw emails from late 2012 sent between hussain and his wife containing a draft of his resignation letter from autonomy. Jul 30, 2018 autonomy claimed to be a pure software business with gross margins ranging from 8590%.
Group cfo sushovan hussain talks about taking on the big players and the value of and oldfashioned approach to finance in a hitech industry. Sushovan hussain told me to fiddle revenues, says autonomy sales chief. Uk software icon autonomy was a giant ponzi scheme. Mar 25, 2019 hewlettpackard hp which bought mike lynchs cambridgebased firm autonomy for 11. The mysterious case of hewlettpackards autonomy deal. Aug 05, 2014 hewlettpackard said it would sue former autonomy chief financial officer sushovan hussain as he seeks to block hps settlement of three shareholder lawsuits over its troubled purchase of the. Former autonomy cfo triesagainto halt hp shareholder settlement. Hp had buyers remorse over illfated autonomy deal, court.
Sushovan hussain was charged with fraud over its role in selling british software company autonomy to hp in 2011 james titcomb, san francisco may 2019 8. Hp said late last month it plans to pursue claims against lynch and autonomys former chief financial officer sushovan hussain. Mar 31, 2018 sushovan hussain is set to face one of autonomy s fiercest city critics in a san francisco court little over a year after the takeover, hp wrote off the value of autonomy by three quarters. Former autonomy cfo triesagainto halt hp shareholder. May 01, 2018 it was claimed 54yearold sushovan hussain and other senior figures from autonomy artificially inflated the businesss value before it was sold to hewlett packard hp for. The evidence was sufficient for the trier of fact to find that hussain caused hp to make misleading statements to its investors by deceiving hp regarding the nature of autonomys. Us jury convicts former autonomy cfo sushovan hussain of wire fraud and other crimes related to claims he had inflated the firms value before its sale to hp san francisco reuters a u. Dec 01, 2018 in april sushovan hussain, who sat on darktraces board until two years ago, was convicted of 16 counts of fraud dating to his time as autonomys chief financial officer and the hp takeover. Hewlettpackard hp which bought mike lynchs cambridgebased firm autonomy for 11. Oct 11, 2017 ex autonomy cfo begs court to toss out us fraud allegations hussain s lawyers say exec cant be tried in the states for what allegedly happened in uk by shaun nichols in san francisco 11 oct 2017.
Exautonomy cfo jailed for five years over hewlettpackard fraud. Autonomy finance chief sushovan hussain handed fiveyear. Nov, 2016 ex autonomy director accused by us prosecutors of elaborate financial fraud. Ex autonomy chief financial officer sushovan hussain tries to block the settlement of a number of shareholder lawsuits filed against hp, claiming that the company is attempting a coverup. Hp hp ceo meg whitman hp this morning filed a legal response to former autonomy cfo sushovan hussain, filled with accusations about his alleged part in what hp describes as the massive fraud on hp. British entrepreneur mike lynch leaves the high court in london. Hewlettpackard said it would sue former autonomy chief financial officer sushovan hussain as he seeks to block hps settlement of three shareholder lawsuits.
Hp alleges that autonomy founder mike lynch and chief financial officer sushovan hussain inflated the value. The government alleged, however, that these representations were falsepart of a calculated scheme by hussain and other autonomy principals to deceive the market as to autonomys true financial picture and growth prospects. Lynch and hussain, said hpe in its court filings, caused autonomy group. Mike lynch leaves hp after less than a year at the firm, with cracks in the. Lynch also claimed that he was placed on gardening leave for six. Apr 01, 2019 exceo tells lynch trial hp did not need autonomy at any cost. Sushovan hussain is alleged to have masterminded an. Group cfo sushovan hussain talks about taking on the big players and the value of. Defences around mike lynch show signs of cracking after us. Sushovan hussain argued that with the proposed settlement, hp and its executives hope never to answer. Mike lynch denies all claims against him in hp case.
Exautonomy director accused by us prosecutors of elaborate financial fraud. Uk software icon autonomy was a giant ponzi scheme this. Mike lynch denies all claims against him in hp case the irish times. Autonomy boss lynch ramped sales ahead of hp deal, court told. Feb 26, 2018 sushovan hussain, who was chief financial officer at the big data software firm, is said to have masterminded a scheme that sought to deceive investors and hp about the autonomy s performance. Exceo tells lynch trial hp did not need autonomy at any cost.
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