‘Britain’s Bill Gates’ extradited to the US on money fraud charges with £79m bail set
MIKE Lynch, once dubbed “Britain’s Bill Gates”, has been extradited to the US on big money fraud charges.
A Californian judge set bail at £79million and called in 24-hour guards to ensure he does not try to flee.
Tycoon Lynch, is accused of trying to dupe tech giant Hewlett-Packard into overpaying for Autonomy.
Lynch, who founded the software firm, sold it for £8.2billion in 2011.
He denies wrongdoing but faces up to 20 years if convicted.
He fought extradition for four years but his transfer was approved last year during which he lost a six-year civil high court case brought by HP.
Jumanj-eee
MERLIN ENTERTAINMENTS has pumped £17million into three new Jumanji rides, opening next week at Chessington World of Adventures.
It marks the company’s largest single investment in the theme park.
Mail boss go
ROYAL MAIL boss Simon Thompson has stepped down after two years of battling with postal unions.
He said it was “the right time to hand over” after an agreement was negotiated that gave the service “a chance to compete and grow”.
His credibility was in doubt over evidence he gave to MPs.
THG bid slide
THG shares slumped by over 15 per cent yesterday after the e-commerce company rejected a takeover bid from private equity firm APOLLO.
Founder Matt Moulding posted “it’s unpleasant being listed in London” and signed off “#nothanks”.
THG, worth £5.4billion three years ago, is now worth £851million.