Lynch, Michael Richard (1965- )

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    Mike Lynch, Tech Mogul Acquitted of Fraud, Dies at 59

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    The British entrepreneur, who was found not guilty of fraud charges in the sale of his company to Hewlett-Packard, was celebrating his acquittal when his yacht that sank off the coast of Sicily in a storm.Mike Lynch, a British software mogul who was once celebrated as a top technology leader — only to spend more than a decade defending himself against accusations that he orchestrated one of the biggest frauds in Silicon Valley history — died on Monday after his yacht sank off the coast of Sicily. He was 59.An official in the Italian city of Palermo confirmed on Thursday that Mr. Lynch’s body had been recovered by divers.Twelve guests and 10 crew members were onboard the yacht, the Bayesian, when it went down during a violent storm. Mr. Lynch’s wife, Angela Bacares, was rescued, along with nine crew members and six passengers. Six bodies have been recovered and one person is still missing, Mr. Lynch’s daughter Hannah Lynch.Mr. Lynch’s death came two months after he was acquitted in federal court in San Francisco of criminal fraud charges, tied to the $11 billion sale of his company, Autonomy, to Hewlett-Packard in 2011. The takeover, widely regarded among investors as one of the worst deals in history, led HP to accuse Mr. Lynch of deception.U.S. prosecutors charged Mr. Lynch with more than a dozen counts of fraud and conspiracy related to the deal, with a potential sentence running to about two decades in prison.Emergency services search for survivors after a yacht sank off the coast of Sicily on Monday.Alberto Lo Bianco/, via LaPresse, via Associated PressWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Divers Find 2 Bodies From Yacht That Sank Off Sicily

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      The discovery came after the vessel sank this week in what some witnesses described as a waterspout, or a small tornado, during a violent downpour. No names were immediately released.After three days of searching the hull of a sailing yacht that sank off the coast of Sicily, divers on Wednesday recovered the bodies of two passengers who were believed to have been trapped inside their cabins when the vessel went down, officials in Sicily said.The yacht, the Bayesian, with 12 crew members and 10 passengers, was caught in what some witnesses described as a waterspout, essentially a small tornado on water, during a sudden and violent downpour in the pre-dawn hours of Monday.The recovery of the two bodies was confirmed by Salvatore Cocina, head of Sicily’s civil protection agency. What looked like a green body bag was lifted from a vessel in Porticello, Sicily, on Wednesday afternoon and loaded onto a waiting ambulance as a large group of rescuers stood by in their uniforms.On the dock, a crowd of reporters and bystanders watched on in near complete silence, as a church bell tolled in the background.Although 15 people made it to safety and the yacht’s cook was confirmed dead, the fate of the remaining six people, including a British tech entrepreneur, Mike Lynch, had been formally unresolved until the update on Wednesday.In addition to Mr. Lynch, the remaining people who had been identified as missing by the authorities were his daughter Hannah; Jonathan Bloomer, the chairman of Morgan Stanley International; his wife, Judy Bloomer; Christopher J. Morvillo, a lawyer at Clifford Chance; and his wife, Neda Morvillo.Mike Lynch in 2011. Pool photo by Ben GurrThey were part of a group of people celebrating a legal victory for Mr. Lynch, who was acquitted in June of fraud charges tied to the sale of his company, Autonomy, to the tech giant Hewlett-Packard.The body of the yacht’s cook, Recaldo Thomas, who held Canadian and Antiguan citizenship, was recovered earlier from the water, the Sicilian civil protection agency said.Deep sea divers with the Vigili del Fuoco, Italy’s firefighting corps, were able to reach the bodies after dealing with what Luca Cari, their spokesman, described as “very difficult” conditions.The yacht had settled on its side, about 165 feet below the surface, and divers could only remain underwater for a limited amount of time. To complicate matters, they had to navigate through broken furnishings and electrical wiring that blocked the tight spaces inside the hull. More

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      What to Know About the Sunken Sicily Yacht’s Missing Passengers, Including Mike Lynch

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      Mr. Lynch, the former chief executive of the software firm Autonomy, who was acquitted on fraud charges in June, was with friends and family when the yacht went down in a severe storm.A cruise on the Mediterranean Sea aboard a superyacht was supposed to be a celebratory event for the British tech entrepreneur Mike Lynch, who was acquitted in June of fraud charges tied to the sale of his company, Autonomy, to the tech giant Hewlett-Packard.Instead, it turned into a disaster after the yacht, a 180-foot boat called the Bayesian, sank off the coast of Sicily in a violent storm. Of the 22 passengers aboard, 15 were rescued, one body was recovered and six were still missing. Search operations at the site of the sunken yacht were continuing on Tuesday.Here’s what we know about the passengers.Mike Lynch and his familyMr. Lynch, 59, is a British software entrepreneur who had once been described as his country’s Bill Gates. He founded the software firm Autonomy, which analyzed clients’ unorganized data, and turned it into one of the most prominent British technology companies of its time. He became a widely known corporate leader, who advised David Cameron, the British prime minister at the time, and joined the board of the BBC.In 2011, Mr. Lynch sold Autonomy to Hewlett-Packard for $11 billion, which was far above its market value, earning him hundreds of millions. But HP investors almost immediately soured on the transaction, and the American tech giant quickly fired its chief executive — and then Mr. Lynch.HP later accused Mr. Lynch of misleading it about the state of Autonomy’s business, setting off a decade-long legal ordeal for the British executive, who denied the accusations. U.S. prosecutors charged him and other executives with fraud, and Autonomy’s chief financial officer was convicted in 2018.Despite appeals to the British government, Mr. Lynch was extradited to the United States last year and was confined to a townhouse in San Francisco ahead of his criminal trial, which began in March. Facing the possibility of decades in prison if convicted, Mr. Lynch and another colleague were instead acquitted of all charges.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More