British tech entrepreneur Mike Lynch wanted to commemorate his acquittal on fraud and conspiracy charges just two months before he went missing after a superyacht named the Bayesian sank off the coast of Sicily.
According to Danny Fortson, who interviewed Lynch after his acquittal for The Sunday Times, the tech mogul was experiencing a range of emotions after the end of his lengthy legal saga. Fortson said he was “obviously incredibly grateful and happy” for his sudden change in fortune but was still “struggling to accept” his new reality.
When he got on that yacht, Mike Lynch had his future in front of him. Little did he know that the contraption, tagged a ship that couldn’t sink by its creators, would become a deathtrap.
Mike Lynch Had a New Lease on Life Before He Got on the Bayesian
Mike Lynch initially faced over a dozen charges that could have sentenced him to 25 years in prison. Given his age and health concerns, he knew what that would mean for him, and it was not good.
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“He was very clear that he would probably die in prison in America,” Fortson said. The journalist also admitted that for the past ten years, Lynch “lived much of his life…under this kind of cloud,” all of which changed within seconds thanks to a verdict.
“He was just really struggling to grapple with that,” the journalist explained. “He was hugely excited and very thankful, but also just this case had been going on, or the allegations had been going on for more than a decade.”
A source close to those who survived the disaster confirmed that Lynch was celebrating his acquittal when the yacht went down early on the morning of August 19. According to the Italian Coast Guard, 22 people were aboard the Bayesian when it sank off the coast of Porticello.
One of the first bodies authorities found following the incident was identified as a cook from the boat. Meanwhile, 15 people survived, including Lynch’s wife, Angela Bacares, while six others, Lynch and his daughter included, were tagged missing.
More About Mike Lynch’s Indictment in 2018
Two months before authorities declared Lynch missing after a superyacht he was on sank off the coast of Sicily, the British tech entrepreneur was acquitted of fraud and conspiracy charges.
Lynch’s legal saga began in 2018 when federal prosecutors in California indicted him on several counts of securities fraud and conspiracy. The indictment was linked to the 2011 sale of Autonomy, a business software company he founded, to Hewlett Packard.
He sold it for $11 billion, a trade that earned him up to $800 million. HP rejoiced over the takeover but quickly regretted it. It had allegedly discovered that Lynch had inflated Autonomy’s revenues before the sale.
The company found out when it reportedly wrote down its value on its balance sheet by over $8 billion. It claimed that most of the write-down resulted from the misleading data that Autonomy’s previous management presented.
The trial started in 2024 because Lynch fought hard against extradition to the United States for years following the indictment. He faced 15 felony charges but was acquitted on all counts in June.
“I am looking forward to returning to the UK and getting back to what I love most: my family and innovating in my field,” Lynch said following his acquittal. However, it was not to be.
The Bodies of Mike Lynch and Five Others Have Been Recovered
After the Bayesian sank and survivors were rescued, authorities launched an extensive search for the six remaining people on board, which included Mike Lynch and his daughter Hannah.
The other missing passengers included New York City-based lawyer Christopher Morvillo, who played a significant role in Lynch’s acquittal, his wife Neda, and Morgan Stanley International chairman Jonathan Bloomer and his wife.
Those missing were presumed to be trapped in the hold or their cabins. However, the search proceeded slowly. Divers could only stay underwater for minutes due to the depth at which the yacht sank.
“It’s a very long job,” one senior official explained. “At most, it is a 15-minute segment — and that includes going up and going down. And then they need time to recover.”
After days of constant searching, all six passengers deemed missing were found. However, they had already lost their lives. Authorities claimed some had been searching for air pockets before they succumbed to their deaths. An Italian government official confirmed on Thursday, August 22, that Mike Lynch was among the dead.
Hewlett Packard Refuses To Drop the Lawsuit Against Lynch Even After His Demise
Despite Mike Lynch’s demise, Hewlett Packard Enterprise said Monday, September 2, that it plans to pursue its U.K. claim for damages against his estate.
In 2022, Britain’s High Court mainly ruled in favor of the U.S. tech company, which accused Lynch and his former finance director of fraud over its $11 billion purchase of his software company, Autonomy. Hewlett-Packard wants up to $4 billion in damages, and the judge is expected to decide on the final sum soon.
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