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Rescue divers continue to search for the six missing passengers in Bayesian yacht wreck
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August 20, 2024
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0:47Now PlayingBritish tycoon Mike Lynch was celebrating his recent acquittal in “one of Silicon Valley’s biggest-ever fraud cases” with his family and legal team when their superyacht capsized in Sicily.
Lynch — who’s been dubbed the British Steve Jobs — had invited white-collar lawyer Christopher Morvillo and others from law firm Clifford Chance for a trip on the Bayesian after he was cleared in the federal case, according to a report by the Telegraph.
The three-month trial played out in San Francisco federal court and centered on allegations that Lynch schemed to inflate his software company Autonomy’s revenue when he sold it to Hewlett-Packard for $11 billion in 2011. Within a year, the US tech company downvalued Autonomy’s worth by $8.8 billion.
A jury found the Irish-born Lynch not guilty on all 15 securities and wire fraud charges on June 6. Clifford Chance referred to the trial as “one of Silicon Valley’s biggest-ever fraud cases.”
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#mikelynch #sicily #bayesian
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