May 1, 2018
HP wins first fraud case against Autonomy
A former senior executive at the UK software firm Autonomy has been convicted of fraud in the United States. Former chief financial officer Sushovan Hussain was found guilty of artificially inflating the firm's financial position before it was sold. Mr Hussain's lawyers say he will appeal against the judgement. After HP bought Autonomy for £7.1bn in 2011, the US tech giant said it had uncovered accounting irregularities. "As we have consistently maintained, Mr Hussain engaged in outright fraud and deliberately misled the market about non-existent sales through a series of calculated sham transactions," it said.
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