FRC: Deloitte allowed Autonomy to ‘present misleading financial position’ January 6, 2021 Deloitte’s audit of scandal-hit UK software firm Autonomy allowed the company to “present a misleading picture of its financial position”, the City watchdog said this morning. The Financial Reporting Council investigated the actions of Deloitte and former partners Richard Knights and Nigel Mercer in relation to their audits of the disgraced tech company’s accounts. Autonomy [...]
From Crypto to Tokens. The Great Migration December 1, 2020 My journey to crypto was not direct. I’d spent 20 years working for traditional banking houses, trading foreign exchange for Morgan Stanley, Merrill Lynch and others. The high points in my career came during the most chaotic times, managing trading books through devaluations in Asia, Latin America and Iceland. I spent my first career studying [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 21, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. City firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of [...]
Natwest Three banker slams ‘pernicious’ US-UK extradition treaty February 10, 2020 A British banker who was extradited to the US for fraud said the extradition treaty between the two countries is a “pernicious law” that is “designed for one outcome — incarceration”. Last week, Autonomy founder Mike Lynch was arrested following a US extradition request. Lynch faces charges of securities fraud, wire fraud and conspiracy in [...]
Mike Lynch extradition would ‘cripple’ City and damage national sovereignty, says David Davis February 9, 2020 The extradition of British entrepreneur Mike Lynch to the US would “cripple the City” and signal an erosion of national sovereignty, according to ex-Brexit secretary David Davis. Lynch, founder of software company Autonomy, submitted himself for arrest in London on Wednesday after US authorities requested his extradition to stand trial for securities fraud, wire fraud and [...]
Mike Lynch arrest: Autonomy CEO submits himself for arrest in US extradition case February 5, 2020 Autonomy founder Mike Lynch has this morning submitted himself for arrest in what his legal team said is a formality triggered by a US extradition request. Lynch – who is facing charges of securities fraud, wire fraud and conspiracy in the US related to the 2011 sale of Autonomy to Hewlett Packard (HP) – has [...]
Government urged to delay US extradition of Autonomy founder Mike Lynch January 23, 2020 Former Brexit secretary David Davis has urged the home secretary to block the extradition of Autonomy founder Mike Lynch to the US until after the verdict of a UK civil trial is announced. The US is seeking to extradite Lynch to stand trial on charges of securities fraud, wire fraud and conspiracy related to the [...]
London’s legal tech status burnished by $5m US investment in startup Juro January 7, 2020 London’s status as a hub for legal tech was boosted today by the investment of $5m (£3.8m) in contracts startup Juro in a funding round led by a US firm that backed Twitter and Kickstarter. Juro is an end-to-end contract management platform with customers such as Deliveroo and Skyscanner. The company today announced it has [...]
HP accuses Autonomy boss Mike Lynch of lying in $5bn fraud trial December 12, 2019 Hewlett-Packard (HP) today accused British businessman Mike Lynch of lying to the High Court when he gave evidence in his $5.1bn (£3.9bn) Autonomy fraud trial. HP is suing Lynch, the founder of software firm Autonomy, and his former finance chief Sushovan Hussain, over claims they falsely inflated the company’s revenue for two years before the [...]
Mike Lynch $5bn fraud trial enters final stages December 11, 2019 British businessman Mike Lynch will face renewed scrutiny tomorrow as Hewlett-Packard kicks off its closing submissions in a $5.1bn fraud trial centred on its acquisition of software firm Autonomy. Hewlett-Packard is suing Lynch, the founder of software company Autonomy, and the firm’s former finance chief Sushovan Hussain, accusing the company of falsely inflating its revenue [...]