Ex-Autonomy boss Mike Lynch charged with fraud in US(theregister.co.uk)
theregister.co.uk
Ex-Autonomy boss Mike Lynch charged with fraud in US
https://www.theregister.co.uk/2018/11/30/mike_lynch_autonomy_fraud_charge/
11 comments
[deleted]
It's about time. Autonomy was like the Donald Trump of tech companies.
Was going to say the same thing. Horrible stripper lunch sales practices and outright lies about product capabilities. So sad that shit works, but most IT execs are idiots and they knew how to exploit them.
They could get execs to save face and sign off on bumbling through two years delivering non-functional crap that could never do what was promised for millions.
They could get execs to save face and sign off on bumbling through two years delivering non-functional crap that could never do what was promised for millions.
A colleague once told me an Autonomy rep was sleeping with the client he worked for previously. It was all based on hooking the primary approver and covering up the actual usage of the "product".
[deleted]
What specifically? Did they sell vaporware or something?
This article provides more background information than the original story:
https://www.theregister.co.uk/2018/11/30/mike_lynch_autonomy...
Earlier in the year the former CFO was convicted of fraud: https://www.ft.com/content/49411f5e-4ccb-11e8-8a8e-22951a2d8...
Earlier in the year the former CFO was convicted of fraud: https://www.ft.com/content/49411f5e-4ccb-11e8-8a8e-22951a2d8...
Thanks, we've changed to that first URL from https://www.businessinsider.com/mike-lynch-the-ex-autonomy-b....
Suprisingly, they never mention what Autonomy is selling. Have everyone in UK heard about the company?
The thing that got him is that he’s British. Going after a foreign CEO is political red meat. Notice no action against the principals of Purdue Pharmaceuticals.
Wow, reading the comments in the Register article make me aware I should stay away from British stocks, and be very wary of deals with British companies. “Caveat emptor”, victim blaming, of course everyone commits fraud, the bad guys are the rubes who believe it.
Certainly you’d want your auditors to catch it but that doesn’t mean it’s ok to cook the books.
Of course the accused hasn’t been proven guilty yet, I’m just referring to the mindset of it’s ok to do whatever you can get away with, as expressed in the comments.
Certainly you’d want your auditors to catch it but that doesn’t mean it’s ok to cook the books.
Of course the accused hasn’t been proven guilty yet, I’m just referring to the mindset of it’s ok to do whatever you can get away with, as expressed in the comments.