British Investor Mike Lynch Missing After Storm in Sicily. Mike Lynch, a 59-year-old prominent British investor, is among those missing after a tragic incident in which a tornado sank his luxury yacht off the coast of Sicily, Italy, early Monday. The news was confirmed by sources close to CNN.
Lynch, known for his role as co-founder of Autonomy, amassed much of his wealth through the technology company, which was bought by Hewlett-Packard (HP) for $11 billion in 2011. According to a lawyer for Lynch, his personal fortune is estimated at around $450 million.
The acquisition of Autonomy was one of the largest British technology transactions at the time. However, the purchase was marred by legal controversies when HP wrote down the value of the company by $8.8 billion in just one year. The purchase of Autonomy was intended to strengthen HP’s software business, but legal problems quickly arose, culminating in a fraud trial.
Lynch and Autonomy’s former chief financial officer, Stephen Chamberlain, were accused of manipulating the company’s earnings before the sale to HP. In June, Lynch was acquitted of 15 charges, including one of conspiracy and 14 of wire fraud, in a San Francisco court. The court’s decision stunned Lynch, who told the British newspaper the Times: «When you hear that answer, it jumps universes. If this had gone wrong, it would have been the end of life as I’ve known it in any sense.»
The superyacht Lynch was traveling on, the «Bayesian,» is registered to his wife, Angela Bacares. The 56-meter-long vessel belongs to Revtom Limited, a company registered on the Isle of Man. Bacares was one of the people rescued after the accident.
Fifteen people were rescued from the accident, including a child who was airlifted to the children’s hospital in Palermo. Eight people in total were hospitalized. The Coast Guard has reported that a body was found in the hull of the yacht, while search and rescue efforts continue.
In: aheasydiets.com. Thanks to: Recent News
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