May 13, 2019

Autonomy ex-finance chief sentenced to jail for HP fraud

Autonomy's former finance boss has been sentenced to five years in prison for fraud, linked to the $11bn sale of the UK software firm to Hewlett Packard. British citizen Sushovan Hussain faces jail in the US after being found guilty last year of 16 counts of securities and wire fraud. HP claims that Autonomy inflated its revenues and a court found that Mr Hussain made false statements to investors about the company ahead of the deal in 2011. Judge Charles Breyer said that in his position as chief financial officer, Mr Hussain had "Corrupted a number of innocent people" and "Could direct people who were subordinate to [him] to commit these types of offences". Mr Hussain is also being sued in the UK by HP along with Autonomy's founder Mike Lynch for $5bn over claims they "Committed a deliberate fraud over a sustained period of time" to artificially inflate the firm's value.

Read the full story

 Related companies

Make a complaint about HP by viewing their customer service contacts.