British tech entrepreneur Mike Lynch has been extradited to the U.S. to face fraud charges in relation to the sale of his software company Autonomy to Hewlett Packard.
Lynch arrived in the U.S. on Thursday afternoon and is currently detained in San Francisco until bail conditions are met, his spokesperson confirmed to CNBC. He face charges of securities and wire fraud in relation to the sale of his company Autonomy to HP for $11 billion.
The entrepreneur attended an arraignment hearing on Thursday and was ordered to pay a $100 million bail to be released on house arrest, the spokesperson said.
Source: Autonomy founder Mike Lynch extradited to the US to face fraud charges