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Stock impact report

How Mike Lynch shielded his family fortune from £700m fraud ruling [Yahoo! Finance]

HP Inc. (HPQ) 
Last hp inc. earnings: 2/24 04:05 pm Check Earnings Report
US:NYSE Investor Relations: h30261.www3.hp.com
Company Research Source: Yahoo! Finance
The British software tycoon had faced the prospect of decades in prison before he defeated criminal fraud charges in a San Francisco trial, and described winning the case as being granted a “second life”. The prospect of signing his wealth away to Hewlett-Packard (HP), the tech giant that was pursuing him for billions in the English courts, paled in comparison to ending his life behind bars. But Lynch was breezy about the prospect for another reason: a large portion of the Lynch family fortune was held in his wife Angela Bacares's name, shielding it from any legal repercussions “My wife has been very good at investing in the things that I've told her to from a point of view of technology. We've done very well,” Lynch said in an interview after he was acquitted. “It's not a perilous situation.” Just a few weeks later, Lynch and his daughter Hannah died when the entrepreneur's superyacht, Bayesian, capsized off the coast of Sicily, a tragedy that Bacares herself survived. But Show less Read more
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