June 3 (Reuters) - Jurors at the trial of British tech
pioneer Mike Lynch are expected to hear closing arguments in San
Francisco on Monday in the fraud case related to
Hewlett-Packard's ( HPE ) $11 billion acquisition of his
software company Autonomy in 2011.
The Cambridge University-educated entrepreneur took the
stand in his own defense at the trial, denying wrongdoing and
telling jurors that HP botched the two companies' integration.
HP wrote down Autonomy's value by $8.8 billion within a year
of the acquisition.
Lynch and former Autonomy finance executive Stephen
Chamberlain face charges of fraud and conspiracy for allegedly
scheming to inflate the company's revenue starting in 2009,
partly to entice a buyer.
Prosecutors say the pair padded Autonomy's finances in
several ways, including back-dated agreements and "round-trip"
deals that fronted cash to customers through fake contracts.
At the trial that began in mid-March, jurors have heard from
more than 30 government witnesses including Leo Apotheker, the
former HP CEO who was fired weeks after the Autonomy deal was
announced.
Lynch's legal team has argued that HP was so eager to
acquire Autonomy ahead of potential competitors that it rushed
through due diligence before the sale.
On the stand, Lynch said he had been focused on tech issues,
and entrusted money matters and the accounting decisions at
issue to Sushovan Hussain, Autonomy's then-chief financial
officer.
Hussain was separately convicted in 2018 at a trial in the
same court. He was released from U.S. prison in January after
serving a five-year sentence.
Lynch was one of the UK's leading tech entrepreneurs,
drawing comparisons to Apple ( AAPL ) cofounder Steve Jobs and
Microsoft ( MSFT ) cofounder, Bill Gates.
In one of the biggest British tech deals at the time, the
Autonomy acquisition was meant to fuel HP's software business.
Instead, it spawned a series of bitter and expensive legal
battles.
HP largely won a civil lawsuit against Lynch and Hussain in
London in 2022, though damages have not yet been decided. The
company is seeking $4 billion.